[Congressional Bills 107th Congress]
[From the U.S. Government Publishing Office]
[S. 806 Introduced in Senate (IS)]







107th CONGRESS
  1st Session
                                 S. 806

 To guarantee the right of individuals to receive full social security 
  benefits under title II of the Social Security Act with an accurate 
                   annual cost-of-living adjustment.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                              May 1, 2001

Mr. Hutchinson introduced the following bill; which was read twice and 
                  referred to the Committee on Finance

_______________________________________________________________________

                                 A BILL


 
 To guarantee the right of individuals to receive full social security 
  benefits under title II of the Social Security Act with an accurate 
                   annual cost-of-living adjustment.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Full Social Security Benefits 
Guarantee Act''.

SEC. 2. GUARANTEE OF FULL SOCIAL SECURITY BENEFITS WITH ACCURATE ANNUAL 
              COST-OF-LIVING ADJUSTMENT.

    (a) In General.--Not later than 90 days after the date of enactment 
of this Act, the Secretary of the Treasury shall issue to each 
individual who, as of such date, is receiving benefits under title II 
of the Social Security Act (42 U.S.C. 401 et seq.) and, thereafter, to 
each individual who applies for such benefits, a certificate 
representing a legally enforceable guarantee--
            (1) of the monthly amount of benefits that the individual 
        will receive under that title, as determined on the date of the 
        issuance of the certificate; and
            (2) that the benefits will be adjusted--
                    (A) not less frequently than annually on the basis 
                of an accurate determination of the increase in the 
                cost-of-living of the individual; and
                    (B) as a result in a change in the eligibility 
                status of the individual under that title.
    (b) Entitlement.--Any certificate issued under the authority of 
this section constitutes budget authority in advance of appropriations 
Acts and represents the obligation of the Federal Government to provide 
for the payment to the individual to whom the certificate is issued 
benefits under title II of the Social Security Act (42 U.S.C. 401 et 
seq.) in the amounts set forth in the certificate and adjusted 
thereafter as described in subsection (a)(2).
                                 <all>