Social Security Amendments of 1981

[AI summary unavailable — showing source text] Social Security Amendments of 1981 - Amends title II (Old Age, Survivors and Disability Insurance) of the Social Security Act to permit the Board of Trustees of the Federal Old-Age and Survivors Insurance Trust Fund to borrow funds from the Federal Disability Insurance Trust Fund or the Federal Hospital Insurance Trust Fund whenever the assets of the Federal Old-Age and Survivors Insurance Trust Fund are less than 20 percent of its disbursements for the 12 months preceding the borrowing. Provides for repayment of any such loan. Requires the Board to report to Congress on any funds borrowed. Amends titles II and XVIII (Medicare) of the Social Security Act to provide for the appointment to the Board of Trustees of the Federal Old-Age and Survivors Insurance Trust Fund, the Federal Disability Insurance Trust Fund, the Federal Hospital Insurance Trust Fund, and the Federal Supplementary Medical Insurance Trust Fund of one representative of employers, one representative of employees, one representative of beneficiaries, and one individual highly qualified in the management of investment funds. Amends part A (General Provisions) of title XI of the Social Security Act to prohibit the incl…