I 
113TH CONGRESS 
1ST SESSION H. R. 1517 
To amend titles II and XVIII of the Social Security Act to establish a 
Social Security Surplus Protection Account in the Federal Old-Age and 
Survivors Insurance Trust Fund to hold the Social Security surplus 
and a Medicare Surplus Protection Account in the Federal Hospital 
Insurance Trust Fund to hold the Medicare surplus, to provide for 
suspension of investment of amounts held in such Accounts until enact-
ment of legislation providing for investment of the Trust Funds in 
investment vehicles other than obligations of the United States, and 
to establish a Social Security and Medicare Part A Investment Commis-
sion to make recommendations for alternative forms of investment of 
the Social Security and Medicare surpluses. 
IN THE HOUSE OF REPRESENTATIVES 
APRIL 11, 2013 
Mr. WALBERG introduced the following bill; which was referred to the 
Committee on Ways and Means 
A BILL 
To amend titles II and XVIII of the Social Security Act 
to establish a Social Security Surplus Protection Account 
in the Federal Old-Age and Survivors Insurance Trust 
Fund to hold the Social Security surplus and a Medicare 
Surplus Protection Account in the Federal Hospital In-
surance Trust Fund to hold the Medicare surplus, to 
provide for suspension of investment of amounts held 
in such Accounts until enactment of legislation providing 
for investment of the Trust Funds in investment vehicles 
other than obligations of the United States, and to estab-
VerDate Mar 15 2010 
02:15 Apr 19, 2013
Jkt 029200
PO 00000
Frm 00001
Fmt 6652
Sfmt 6652
E:\BILLS\H1517.IH
H1517
tjames on DSK6SPTVN1PROD with BILLS
lish a Social Security and Medicare Part A Investment 
Commission to make recommendations for alternative 
forms of investment of the Social Security and Medicare 
surpluses. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE; FINDINGS. 
(a) SHORT TITLE.—This Act may be cited as the 
‘‘Social Security and Medicare Lock-Box Act’’. 
(b) FINDINGS REGARDING SOCIAL SECURITY AND 
MEDICARE PART A.—The Congress finds the following: 
(1)(A) Long term projections show serious 
problems facing the fiscal health of the trust funds 
associated with Social Security and Medicare Hos-
pital Insurance. 
(B) According to the 2012 Annual Report of 
the Board of Trustees of the Federal Old-Age and 
Survivors Insurance and Federal Disability Insur-
ance Trust Funds, the assets of the combined Fed-
eral Old Age and Survivors Insurance Trust Fund 
and the Federal Disability Insurance Trust Fund 
will be exhausted by 2033, and the Disability Insur-
ance Trust Fund alone will be depleted by 2016. 
(C) According to the 2012 Annual Report of 
the Board of Trustees of the Federal Hospital In-
surance and Federal Supplementary Medical Insur-
VerDate Mar 15 2010 
02:15 Apr 19, 2013
Jkt 029200
PO 00000
Frm 00002
Fmt 6652
Sfmt 6201
E:\BILLS\H1517.IH
H1517
tjames on DSK6SPTVN1PROD with BILLS
ance Trust Funds, the assets of the Federal Hos-
pital Insurance Trust Fund will be exhausted by 
2024. 
(2)(A) The Trustees of these trust funds 
strongly encourage action to protect the solvency of 
the trust funds. 
(B) In their message to the public, included in 
the 2012 Annual Reports, the Social Security and 
Medicare Boards of Trustees wrote, ‘‘Lawmakers 
should not delay addressing the long-run financial 
challenges facing Social Security and Medicare. If 
they take action sooner rather than later, more op-
tions and more time will be available to phase in 
changes so that the public has adequate time to pre-
pare.’’. 
(3) Social Security and Medicare are meant to 
provide a secure and stable base so that older Amer-
icans can live in dignity. 
(4) Protecting the future surpluses of these 
trust funds can only occur when meaningful reform 
has been enacted by Congress. Any path to solvency 
must include the protection of future surpluses. 
VerDate Mar 15 2010 
02:15 Apr 19, 2013
Jkt 029200
PO 00000
Frm 00003
Fmt 6652
Sfmt 6201
E:\BILLS\H1517.IH
H1517
tjames on DSK6SPTVN1PROD with BILLS