I 

111TH CONGRESS 

2D SESSION H. R. 4937 

To modify certain requirements for countable resources and income under 

the Supplemental Security Income program, and for other purposes. 

IN THE HOUSE OF REPRESENTATIVES 

MARCH 24, 2010 

Ms. TSONGAS (for herself and Mr. PETRI) introduced the following bill; which 

was referred to the Committee on Ways and Means 

A BILL 

To modify certain requirements for countable resources and 

income under the Supplemental Security Income program, and for other purposes. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘SSI Savers Act of 

5 2010’’. 

6 SEC. 2. INCREASE IN RESOURCE LIMITS; INFLATION AD7 JUSTMENT. 

8 (a) INCREASE IN RESOURCE LIMITS.—Section 

9 1611(a)(3) of the Social Security Act (42 U.S.C. 

10 1382(a)(3)) is amended— 


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1 (1) in subparagraph (A)— 

2 (A) by striking ‘‘and’’ the last place it ap3 pears; and 

4 (B) by inserting ‘‘, and to $7,500 on Janu5 ary 1, 2011’’ before the period; and 

6 (2) in subparagraph (B)— 

7 (A) by striking ‘‘and’’ the last place it ap8 pears; and 

9 (B) by inserting ‘‘, and to $5,000 on Janu10 ary 1, 2011’’ before the period. 

11 (b) INFLATION ADJUSTMENT.—Section 1611(a)(3) 

12 of such Act (42 U.S.C. 1382(a)(3)) is amended by adding 

13 at the end the following: 

14 ‘‘(C) ADJUSTMENT FOR INFLATION.— 

15 ‘‘(i) IN GENERAL.—Whenever dollar 

16 amounts in effect under paragraphs (1)(A) 

17 and (2)(A) of this subsection are increased 

18 by a percentage under section 1617, each 

19 of the dollar amounts in effect under this 

20 paragraph shall be increased by the same 

21 percentage, and rounded to the closest 

22 multiple of $100. 

23 ‘‘(ii) REQUIREMENT.—Each adjust24 ment under clause (i) shall be based on the 


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1 unrounded amount for the prior 12-month 

2 period.’’. 

3 SEC. 3. LIMITED EXCLUSION FROM RESOURCES OF CER4 TAIN DEFERRED COMPENSATION AND EDU5 CATION SAVINGS ARRANGEMENTS. 

6 Section 1613 of the Social Security Act (42 U.S.C. 

7 1382b) is amended— 

8 (1) in subsection (a)— 

9 (A) in paragraph (15), by striking ‘‘and’’ 

10 at the end; 

11 (B) in paragraph (16), by striking the pe12 riod and inserting a semicolon; and 

13 (C) by inserting after paragraph (16) the 

14 following: 

15 ‘‘(17) if the individual is not described in sec16 tion 1611(e)(1)(B) of this Act, the value of any as17 sets in a plan, contract, or account, annuity, or trust 

18 described in section 401(a), 403(a), 403(b), 408, 

19 408A, 414(d), 457(b), or 501(c)(18) of the Internal 

20 Revenue Code of 1986, any retirement program or 

21 account included in any successor or similar provi22 sion that may be enacted and determined to be ex23 empt from tax under the Internal Revenue Code of 

24 1986, and any other retirement plan, contract, ac25 count, annuity, or trust, as determined in the sole 


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1 discretion of the Commissioner, except that if the in2 dividual has attained 65 years of age, the total 

3 amount excluded under this paragraph shall not ex4 ceed— 

5 ‘‘(A) $50,000 (or, if greater, the amount 

6 determined under subsection (f) of this section) 

7 if the individual does not have an eligible 

8 spouse; or 

9 ‘‘(B) $75,000 (or, if greater, the amount 

10 determined under such subsection (f)) if the in11 dividual has an eligible spouse; and 

12 ‘‘(18) if the individual has not attained 65 

13 years of age, the value of— 

14 ‘‘(A) any funds in a qualified tuition pro15 gram (as defined in section 529 of the Internal 

16 Revenue Code of 1986) or in a Coverdell edu17 cation savings account (as defined in section 

18 530 of such Code); 

19 ‘‘(B) any other education program, con20 tract, or account, as determined in the sole dis21 cretion of the Commissioner; and 

22 ‘‘(C) any individual development account 

23 established pursuant to the Assets for Inde24 pendence Act or section 333B of the Consoli25 dated Farm and Rural Development Act, or 


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1 under an individual development account pro2 gram administered by a Federal agency.’’; and 

3 (2) by adding at the end the following: 

4 ‘‘(f) ADJUSTMENT FOR INFLATION.— 

5 ‘‘(1) IN GENERAL.—Whenever dollar amounts 

6 in effect under paragraphs (1)(A) and (2)(A) of sec7 tion 1611(a) are increased by a percentage under 

8 section 1617, each of the dollar amounts in effect 

9 under subsection (a)(17) of this section shall be in10 creased by the same percentage, and rounded to the 

11 closest multiple of $100. 

12 ‘‘(2) REQUIREMENT.—Each adjustment under 

13 paragraph (1) shall be based on the unrounded 

14 amount for the prior 12-month period.’’. 

15 SEC. 4. INCOME RULES APPLICABLE TO CERTAIN DE16 FERRED COMPENSATION ARRANGEMENTS. 

17 (a) IMPUTATION OF INCOME IN CERTAIN CASES.— 

18 Section 1612 of the Social Security Act (42 U.S.C. 1382a) 

19 is amended by adding at the end the following: 

20 ‘‘Imputation of Income From Certain Deferred 

21 Compensation Arrangements 

22 ‘‘(c)(1) If the aggregate value of the assets described 

23 in section 1613(a)(17) of an eligible individual who has 

24 attained 65 years of age and is not described in section 

25 1611(e)(1)(B) exceeds— 


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1 ‘‘(A) $10,000 (or, if greater, the amount deter2 mined under paragraph (2) of this subsection) if the 

3 individual does not have an eligible spouse; or 

4 ‘‘(B) $15,000 (or, if greater, the amount deter5 mined under such paragraph (2)) if the individual 

6 has an eligible spouse, 

7 but does not exceed the dollar amount in effect with re8 spect to the individual under section 1613(a)(17), the as9 sets shall be considered income in an amount equal to the 

10 annuity value of the assets (as determined under regula11 tions of the Commissioner of Social Security). 

12 ‘‘(2)(A) Whenever dollar amounts in effect under 

13 paragraphs (1)(A) and (2)(A) of section 1611(a) are in14 creased by a percentage under section 1617, each of the 

15 dollar amounts in effect under paragraph (1) of this sub16 section shall be increased by the same percentage, and 

17 rounded to the closest multiple of $100. 

18 ‘‘(B) Each adjustment under paragraph (1) shall be 

19 based on the unrounded amount for the prior 12-month 

20 period.’’. 

21 (b) EXCLUSION OF ONE-THIRD OF DISTRIBU22 TIONS.—Section 1612(b) of such Act (42 U.S.C. 

23 1382a(b)) is amended— 

24 (1) by striking ‘‘and’’ at the end of paragraph 

25 (24); 


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1 (2) by striking the period at the end of para2 graph (25) and inserting ‘‘; and’’; and 

3 (3) by adding at the end the following: 

4 ‘‘(26) one-third of the value of any assets de5 scribed in section 1613(a)(17) distributed to such 

6 individual (or such spouse).’’. 

7 SEC. 5. ELIMINATION OF REQUIREMENT THAT SSI RECIPI8 ENTS APPLY FOR PERIODIC PAYMENTS FROM 

9 CERTAIN DEFERRED COMPENSATION AR10 RANGEMENTS. 

11 Section 1611(e)(2) of the Social Security Act (42 

12 U.S.C. 1382(e)(2)) is amended by inserting ‘‘(other than 

13 payments from a plan, contract, account, annuity, or trust 

14 referred to in section 1613(a)(17))’’ after ‘‘section 

15 1612(a)(2)(B)’’. 

16 SEC. 6. EFFECTIVE DATE. 

17 The amendments made by this Act shall apply to ben18 efits for calendar months beginning after the date of the 

19 enactment of this Act. 

Æ 


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