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[Congressional Bills 109th Congress]
[From the U.S. Government Publishing Office]
[S. 1750 Introduced in Senate (IS)]

109th CONGRESS
  1st Session
                                S. 1750

    To provide for the issuance of certificates to Social Security 
  beneficiaries who are born before 1950 guaranteeing their right to 
receive Social Security benefits under title II of the Social Security 
     Act in full with an accurate annual cost-of-living adjustment.

_______________________________________________________________________

                   IN THE SENATE OF THE UNITED STATES

                           September 22, 2005

  Mr. Santorum (for himself and Mr. DeMint) introduced the following 
  bill; which was read twice and referred to the Committee on Finance

_______________________________________________________________________

                                 A BILL

 
    To provide for the issuance of certificates to Social Security 
  beneficiaries who are born before 1950 guaranteeing their right to 
receive Social Security benefits under title II of the Social Security 
     Act in full 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 ``Social Security Guarantee Act of 
2005''.

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 the 
enactment of this Act, the Secretary of the Treasury shall issue a 
benefit guarantee certificate to each individual born before 1950 who 
is determined by the Commissioner of Social Security as of the date of 
the issuance of the certificate to be entitled to benefits under title 
II of the Social Security Act (42 U.S.C. 401 et seq.). The Secretary 
shall also issue such a certificate to any such individual on the date 
such individual is determined thereafter to be entitled to benefits 
under such title.
    (b) Benefit Guarantee Certificate.--The benefit guarantee 
certificate issued pursuant to subsection (a) shall represent a legally 
enforceable guarantee--
            (1) of the timely payment of the full amount of future 
        benefit payments to which the individual is entitled under 
        title II of the Social Security Act (as determined under such 
        title as in effect on the date of the issuance of the 
        certificate); and
            (2) that the benefits will be adjusted thereafter not less 
        frequently than annually to the extent prescribed in provisions 
        of such title (as in effect on the date of the issuance of the 
        certificate) providing for accurate adjustments based on 
        indices reflecting changes in consumer prices as determined by 
        the Bureau of Labor Statistics or changes in wages as 
        determined by the Commissioner of Social Security.
    (c) Obligation to Provide Payments as Guaranteed.--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 amounts in accordance with the 
guarantee set forth in the certificate.
                                 <all>
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