TABLE OF CONTENTS: 
     Title I: Elimination of Social Security Earnings Test 
     Title II:  Protecting and Preserving the Social Security 
          Trust Funds 
Title I: Elimination of Social Security Earnings Test
 - Older Americans Freedom to Work Act - Amends title II (Old Age, Survivors and Disability Insurance) (OASDI) of the Social Security Act to remove the limitation on the amount of outside income which beneficiaries who have attained retirement age may earn (earnings test) without incurring a reduction in benefits. 
Title II: Protecting and Preserving the Social Security Trust Funds
 - Protecting and Preserving the Social Security Trust Funds Act - Declares that Congress reaffirms its support for section 13301 of the Omnibus Budget Reconciliation Act of 1990, which provides that the receipts and disbursements of the Social Security Trust Funds shall not be counted for the purposes of the budget submitted by the President, the congressional budget, or the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act). 
(Sec. 203) Amends the Congressional Budget Act of 1974 to declare out of order in the Senate consideration of any concurrent resolution on the budget (or an amendment or a conference report on the resolution) that violates section 13301 of the Budget Enforcement Act of 1990. 
Provides a point of order in the Senate against consideration of any concurrent budget resolution (or an amendment or a conference report on the resolution) that would cause or increase an on-budget deficit for any fiscal year. 
Makes it out of order in the Senate to consider any bill, joint resolution, amendment, motion, or conference report if the enactment of the reported bill or resolution, the adoption and enactment of an amendment, or the enactment of a bill or resolution in the form recommended in the conference report would cause or increase an on-budget deficit for any fiscal year.  Makes such point of order inapplicable to social security reform legislation that would protect the social security system from insolvency and preserve benefits as promised to beneficiaries. 
Authorizes a waiver or suspension in the Senate of points of order under this title only with a three-fifths majority.  Requires the same majority to sustain an appeal on a ruling on such points of order. 
(Sec. 204) Requires any official Federal Government statement of the Federal or congressional budget surplus or deficit totals to exclude the outlays and receipts of the Federal Old-Age and Survivors Trust Fund and the Federal Disability Insurance Trust Fund under title II of the Social Security Act and related provisions of the Internal Revenue Code.  Requires such outlays and receipts to be submitted in separate social security budget documents. 
(Sec. 205) Requires the President's budget to comply with certain congressional budget rules. 
Title III: Saving Social Security First
 - Requires that specified amounts, from non-social security on-budget surpluses, for FY 2001 through 2009, be transferred to the social security trust funds, in addition to the surpluses in those Funds. 
(Sec. 302) Expresses the sense of the Senate that, if the budget surplus in future years is greater than the currently projected surplus, serious consideration should be given to directing more of the surplus to strengthening the social security trust funds.
Output: A bill to eliminate the social security earnings test for individuals who have attained retirement age, to protect and preserve the social security trust funds, and for other purposes.