H.R. 4851: Social Security Personal Savings Guarantee and Prosperity Act of 2004

108th Congress · introduced 2004-07-19 · Social Welfare · Latest: Referred to the Subcommittee on Social Security.

federal

Follow this bill, step by step

Where it came from: introduced 2004-07-19 · official record
Who proposed it: Rep. Ryan, Paul [R-WI-1] · what a sponsor is
What happened next: no floor votes in our records yet. Why?
Where it stands now: Referred to the Subcommittee on Social Security. Not final yet: this can still change. We check for updates every day.
If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.

What does this mean?

Official title

Social Security Personal Savings Guarantee and Prosperity Act of 2004

Plain summary

Social Security Personal Savings Guarantee and Prosperity Act of 2004 - Amends title II (Old Age, Survivors and Disability Insurance) (OASDI) of the Social Security Act to provide for the establishment of a voluntary, personal Social Security investment program under a new part B (Personal Social Security Savings Program) where a participating individual is able to invest in tax free personal accounts in a way that is similar to the way Federal employees invest in the Thrift Savings Program. Establishes in the Treasury the Social Security Personal Savings Fund, with personal Social Security savings accounts for deposit of the redirected Social Security contributions of participating individuals as mechanisms for crediting to such individuals amounts held in the Tier I Investment Fund, the Tier II Investment Fund, and Tier III Investment Options, also hereby established. Prescribes rules for personal Social Security savings annuity and other distributions. Establishes in the executive branch of the Government a Personal Social Security Savings Account Board to administer the new part B program. Amends title II (Old Age, Survivors and Disability Insurance) (OASDI) of the Social Security Act (SSA) to provide for adjustment of primary insurance amounts in relation to deposits made to personal Social Security accounts. Directs the Secretary of the Treasury to transfer to the Federal Old-Age and Survivors Insurance Trust Fund amounts equal to the recapture of corporate tax on account yields and of Government savings over baseline. Amends the Internal Revenue Code to exempt the Social Security Personal Savings Fund and each Tier III Investment Option from income taxation. Subjects a personal Social Security savings account to taxes imposed on unrelated business income of charitable, etc. organizations. Excludes from a distributee's gross income any qualified distribution from amounts credited to a personal Social Security savings account from the Social Security Personal Savings Fund or held in a Tier III Investment Option. Creates in the Treasury the Self-Liquidating Social Security Transition Fund for the deposit of OASDI trust fund surplus for the preceding year. Amends SSA to provide for accounting for the OASDI program and the individual Social Security investment program. Amends SSA title VII to prescribe the budgetary treatment of the Social Security trust funds, the Social Security Personal Savings Fund, and taxes on self-employment income and FICA (Federal Insurance Contributions) taxes.

Congressional Research Service summary (Introduced in House), quoted unchanged (nonpartisan). Read the source.

What a vote does

A “Yea” vote

If it passes both chambers and is signed, it becomes law.

A “Nay” vote

If it is not passed, current law stays as it is.

PSI Sci description of the legislative step (not an opinion).

What does this mean? (plain words)

Official text

Social Security Personal Savings Guarantee and Prosperity Act of 2004

Source: Congressional Research Service summary (Introduced in House)

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The strongest published arguments

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Alternatives

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How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Rep. Ryan, Paul [R-WI-1] · 6 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.

Words on this page, explained (3)

Exemption: A rule that removes certain people, property or activities from a tax or requirement.
Rulemaking: The process agencies use to write regulations that carry out laws passed by Congress or a legislature. Usually an agency publishes a proposed rule, takes public comments, then publishes a final rule.
Securities: Financial investments that can be bought and sold, such as stocks and bonds.

Plain meanings written from linked sources. All words.

Sources

Congressional Research Service summary (Introduced in House)
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-108hr4851.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/108/hr>

Record fed-us-cong108-hr4851 · catalog fed-us-congress-bills-cong108 · updated 2026-11-15 by psicol fed-bills-cong108