42 U.S.C. 401: Trust Funds

2015

• Pub. L. 114–74, §833(1), substituted "(R) 1.80 per centum of the wages (as so defined) paid after December 31, 1999, and before January 1, 2016, and so reported, (S) 2.37 per centum of the wages (as so defined) paid after December 31, 2015, and before January 1, 2019, and … (Bipartisan Budget Act of 2015) Law text · (b)
• Pub. L. 114–74, §833(2), substituted "(R) 1.80 per centum of the amount of self-employment income (as so defined) so reported for any taxable year beginning after December 31, 1999, and before January 1, 2016, (S) 2.37 per centum of the amount of self-employment income (as… (Bipartisan Budget Act of 2015) Law text · (b)

2004

• Pub. L. 108–203 added subsec. (n). (Social Security Protection Act of 2004) Law text · (n)

2003

• Pub. L. 108–173, §101(e)(3)(A), inserted "(and, of such portion, the portion of such costs which should have been borne by the Medicare Prescription Drug Account in such Trust Fund)" after "Trust Fund". (Medicare Prescription Drug, Improvement, and Modernization Act of 2003) Law text · (g), (ii)
• Pub. L. 108–173, §101(e)(3)(B), inserted "(and for the Medicare Prescription Drug Account and the Transitional Assistance Account in such Trust Fund)" after "Federal Supplementary Medical Insurance Trust Fund". (Medicare Prescription Drug, Improvement, and Modernization Act of 2003) Law text · (i)

1999

• Pub. L. 106–169, §251(b)(1)(A), inserted "subchapter VIII," after "this subchapter," in fourth sentence. (Foster Care Independence Act of 1999) Law text · (g)
• Pub. L. 106–169, §251(b)(1)(B), inserted "subchapter VIII," after "this subchapter,". (Foster Care Independence Act of 1999) Law text · (g)
• Pub. L. 106–169, §251(b)(1)(C), inserted "subchapter VIII," after "this subchapter,". (Foster Care Independence Act of 1999) Law text · (g)
• Pub. L. 106–170 substituted "section 434 of this title" for "section 505(a) of the Social Security Disability Amendments of 1980". (Ticket to Work and Work Incentives Improvement Act of 1999) Law text · (k)

1998

• Pub. L. 105–277, §4005(b)(2), which directed the amendment of subsec. (g) by inserting "and the functions of the Social Security Administration in connection with the withholding of taxes from benefits, as described in section 407(c) of this title, pursuant to requests by persons… (Agriculture, Rural Development, Food and Drug Administration, and Related Agencies Appropriations Act, 1999) Law text · (g)
• Pub. L. 105–277, §4005(b)(1), inserted before period at end "and the functions of the Social Security Administration in connection with the withholding of taxes from benefits, as described in section 407(c) of this title, pursuant to requests by persons entitled to such benef… (Agriculture, Rural Development, Food and Drug Administration, and Related Agencies Appropriations Act, 1999) Law text · (g)
• Pub. L. 105–277, §4005(b)(3), substituted "subparagraph (A)) and the functions of the Social Security Administration in connection with the withholding of taxes from benefits, as described in section 407(c) of this title, pursuant to requests by persons entitled to such ben… (Agriculture, Rural Development, Food and Drug Administration, and Related Agencies Appropriations Act, 1999) Law text · (g)
• Pub. L. 105–277, §4005(b)(4), inserted before period at end "and the functions of the Social Security Administration in connection with the withholding of taxes from benefits, as described in section 407(c) of this title, pursuant to requests by persons entitled to such bene… (Agriculture, Rural Development, Food and Drug Administration, and Related Agencies Appropriations Act, 1999) Law text · (g)
• Pub. L. 105–277, §4005(b)(5), inserted "and the functions of the Social Security Administration in connection with the withholding of taxes from benefits as described in section 407(c) of this title" after "section 432 of this title". (Agriculture, Rural Development, Food and Drug Administration, and Related Agencies Appropriations Act, 1999) Law text · (g)
• Pub. L. 105–277, §4005(b)(6), inserted after first sentence "The Board of Trustees of such Trust Funds shall prescribe the method of determining the costs which should be borne by the general fund in the Treasury of carrying out the functions of the Social Security Administration in… (Agriculture, Rural Development, Food and Drug Administration, and Related Agencies Appropriations Act, 1999) Law text · (g)

1996

• Pub. L. 104–121 inserted at end "Of the amounts authorized to be made available out of the Federal Old-Age and Survivors Insurance Trust Fund and the Federal Disability Insurance Trust Fund under the preceding sentence, there are hereby authorized to be made available from either… (Contract with America Advancement Act of 1996) Law text · (g)

1994

• Pub. L. 103–296, §321(a)(1), in closing provisions substituted "and" for "and and" before "such Trust Fund shall pay". · (a)
• Pub. L. 103–296, §107(b)(1), (2), substituted "Commissioner of Social Security" and "such Commissioner" for "Secretary of Health and Human Services" and "such Secretary", respectively. · (a)
• Pub. L. 103–296, §107(b)(1), substituted "Commissioner of Social Security" for "Secretary of Health and Human Services" in two places. · (a)
• Pub. L. 103–296, §107(b)(1), (2), substituted "Commissioner of Social Security" and "such Commissioner" for "Secretary of Health and Human Services" and "such Secretary", respectively. · (b)
• Pub. L. 103–387, §3(a), substituted "(O) 1.20 per centum of the wages (as so defined) paid after December 31, 1989, and before January 1, 1994, and so reported, (P) 1.88 per centum of the wages (as so defined) paid after December 31, 1993, and before January 1, 1997, and s… · (b)
• Pub. L. 103–296, §107(b)(1), substituted "Commissioner of Social Security" for "Secretary of Health and Human Services" in two places. · (b)
• Pub. L. 103–387, §3(b), substituted "(O) 1.20 per centum of the amount of self-employment income (as so defined) so reported for any taxable year beginning after December 31, 1989, and before January 1, 1994, (P) 1.88 per centum of the amount of self-employment income (as … · (b)
• Pub. L. 103–296, §107(b)(3), in introductory provisions, inserted "the Commissioner of Social Security," after "shall be composed of" and inserted "Deputy" before "Commissioner of Social Security shall serve". · (c)
• Pub. L. 103–296, §301(a), inserted after fifth sentence "Each obligation issued for purchase by the Trust Funds under this subsection shall be evidenced by a paper instrument in the form of a bond, note, or certificate of indebtedness issued by the Secretary of the Treasury setting for… · (d)
• Pub. L. 103–296, §301(b), inserted at end "Payment from the general fund of the Treasury to either of the Trust Funds of any such interest or proceeds shall be in the form of paper checks drawn on such general fund to the order of such Trust Fund." · (f)
• Pub. L. 103–296, §107(b)(4)(C), in text as amended by Pub. L. 103–296, §321(c)(1)(A)(i)(III), substituted "subchapters II and XVIII" for "subchapters II, XVI, and XVIII" in second sentence and amended last sentence generally. Prior to amendment, last sentence read as follows: "Th… · (g)
• Pub. L. 103–296, §321(c)(1)(A)(i)(III), substituted "chapters 2 and 21 of the Internal Revenue Code of 1986" for "subchapter E of chapter 1 and subchapter A of chapter 9 of the Internal Revenue Code of 1939, and chapters 2 and 21 of the Internal Revenue Code of 1954" in second sentence and "1986 ot… · (g)
• Pub. L. 103–296, §321(c)(1)(A)(i)(I), substituted "and chapters 2 and 21 of the Internal Revenue Code of 1986" for "and subchapter E of chapter 1 and subchapter A of chapter 9 of the Internal Revenue Code of 1939, and chapters 2 and 21 of the Internal Revenue Code of 1954". · (g)
• Pub. L. 103–296, §107(b)(4)(A), substituted "by the Managing Trustee, the Commissioner of Social Security, and the Secretary of Health and Human Services" for "by him and the Secretary of Health and Human Services" and "by the Department of Health and Human Services for the administration of subcha… · (g)
• Pub. L. 103–296, §321(c)(1)(A)(i)(II), substituted "Internal Revenue Code of 1986" for "Internal Revenue Code of 1954". · (g)
• Pub. L. 103–296, §107(b)(4)(B), substituted "applicable method prescribed under paragraph (4)" for "method prescribed by the Board of Trustees under paragraph (4)", "Commissioner of Social Security" for "Secretary of Health and Human Services", and "Social Security Administration" for "Department o… · (g)
• Pub. L. 103–296, §107(b)(4)(A), added subpar. (B) and struck out former subpar. (B), as amended by Pub. L. 103–296, §321(c)(1)(A)(i)(IV), which read as follows: "After the close of each fiscal year the Secretary of Health and Human Services shall determine the portion of the cost… · (g)
• Pub. L. 103–296, §321(c)(1)(A)(i)(IV), substituted "Internal Revenue Code of 1986" for "Internal Revenue Code of 1954" in two places. · (g)
• Pub. L. 103–296, §107(b)(4)(A), added subpars. (C) and (D). · (g), (D)
• Pub. L. 103–296, §321(c)(1)(B)(i), in first sentence substituted "section 3101(a) of the Internal Revenue Code of 1986 which are subject to refund under section 6413(c) of such Code with respect to wages (as defined in section 3121 of such Code)." for "section 3101(a) which are subj… · (g)
• Pub. L. 103–296, §107(b)(5), in second sentence substituted "maintained by the Commissioner of Social Security" for "established and maintained by the Secretary of Health and Human Services" and "Commissioner of Social Security shall furnish" for "Secretary shall furnish". · (g)
• Pub. L. 103–296, §107(b)(6), amended generally par. (4) as amended by Pub. L. 103–296, §321(c)(1)(C). Prior to amendment, par. (4) read as follows: "If at any time or times the Boards of Trustees of such Trust Funds deem such action advisable, they may modify the method prescribed b… · (g)
• Pub. L. 103–296, §321(c)(1)(C), substituted "If at any time or times the Boards of Trustees of such Trust Funds deem such action advisable, they may modify the method prescribed by such Boards" for "The Board of Trustees shall prescribe before January 1, 1981, the method" and "Code of 1986" for "Co… · (g)
• Pub. L. 103–296, §107(b)(7), amended par. (1) generally. Prior to amendment, par. (1) read as follows: "The Managing Trustee of the Federal Old-Age and Survivors Insurance Trust Fund, the Federal Disability Insurance Trust Fund, the Federal Hospital Insurance Trust Fund, and the Fed… · (i)
• Pub. L. 103–296, §107(b)(8), substituted "Commissioner of Social Security" for "Secretary" wherever appearing. · (j)
• Pub. L. 103–296, §107(b)(8), substituted "Commissioner of Social Security" for "Secretary". · (k)
• Pub. L. 103–296, §107(b)(9), substituted "Commissioner of Social Security" for "Secretary". · (l)
• Pub. L. 103–296, §107(b)(10), substituted "Commissioner of Social Security" for "Secretary of Health and Human Services". · (m)

1990

• Pub. L. 101–508, §5115(a), in first sentence following cl. (4), substituted "from time to time" for "monthly on the first day of each calendar month" in two places and "paid to or deposited into the Treasury" for "to be paid to or deposited into the Treasury during such month", and in … · (a)
• Pub. L. 101–508, §13304, inserted after first sentence following cl. (5) "Such statement shall include a finding by the Board of Trustees as to whether the Federal Old-Age and Survivors Insurance Trust Fund and the Federal Disability Insurance Trust Fund, individually and collectively,… · (c)
• Pub. L. 101–508, §5106(c), inserted at end "The amount available for payment under this subsection for travel by a representative to attend an administrative proceeding before an administrative law judge or other adjudicator shall not exceed the maximum amount allowable under this subs… · (j)

1989

• Pub. L. 101–234 repealed Pub. L. 100–360, §212(c)(1), and provided that the provisions of law amended or repealed by such section are restored or revised as if such section had not been enacted, see 1988 Amendment note below. · (g), (i)

1988

• Pub. L. 100–647 inserted after first sentence "A member of the Board of Trustees serving as a member of the public and nominated and confirmed to fill a vacancy occurring during a term shall be nominated and confirmed only for the remainder of such term. An individual nominated and con… · (c)
• Pub. L. 100–360, §212(c)(1)(A), substituted ", Federal Supplementary Medical Insurance Trust Fund, and the Federal Catastrophic Drug Insurance Trust Fund" for "and the Federal Supplementary Medical Insurance Trust Fund". · (g)
• Pub. L. 100–360, §212(c)(1)(B), substituted ", Federal Hospital Insurance Catastrophic Coverage Reserve Fund, Federal Supplementary Medical Insurance Trust Fund, and the Federal Catastrophic Drug Insurance Trust Fund" for "and the Federal Supplementary Medical Insurance Trust Fund". · (i)

1986

• Pub. L. 99–272, in provisions following par. (5), substituted ". Such report shall" for ": Provided, That the certification shall not refer to economic assumptions underlying the Trustee's report, and shall". · (c)

1984

• Pub. L. 98–369, §2663(j)(2)(A)(i), substituted "Health and Human Services" for "Health, Education, and Welfare". · (a), (4), (b), (2)
• Pub. L. 98–369, §2663(a)(1)(A), substituted "chapter 31 of title 31" for "the Second Liberty Bond Act, as amended" and "public-debt obligations" for "public-debt obligation". · (d)
• Pub. L. 98–369, §2663(j)(2)(A)(i), substituted "Health and Human Services" for "Health, Education, and Welfare". · (g)
• Pub. L. 98–369, §2663(a)(1)(B), substituted "clause" for "clauses" in first sentence. · (g)
• Pub. L. 98–369, §2663(j)(2)(A)(i), substituted "Health and Human Services" for "Health, Education, and Welfare". · (g), (4), (i)
• Pub. L. 98–369, §2661(a), inserted "Insurance" after "Survivors". · (l)

1983

• Pub. L. 98–21, §141(a), in provisions following par. (4), substituted "monthly on the first day of each calendar month" for "from time to time", wherever appearing, and "to be paid or deposited into the Treasury during such month" for "paid to or deposited into the Treasury", and inser… · (a)
• Pub. L. 98–21, §126(a), substituted, in cls. (K), (L), and (M), appropriations equivalent to 100 per centum of (K) 1.65 per centum of the wages (as so defined) paid after Dec. 31, 1981, and before Jan. 1, 1983, and so reported, (L) 1.25 per centum of the wages (as so defin… · (b)
• Pub. L. 98–21, §126(b), substituted, in cls. (K), (L), and (M), appropriations equivalent to 100 per centum of (K) 1.2375 per centum of the amount of self-employment income (as so defined) so reported for any taxable year beginning after Dec. 31, 1981, and before Jan. 1, 1… · (b)
• Pub. L. 98–21, §341(a), substituted "Secretary of Health and Human Services, all ex officio, and of two members of the public (both of whom may not be from the same political party), who shall be nominated by the President for a term of four years and subject to confirmation by the Sen… · (c)
• Pub. L. 98–21, §154(a), in provisions following par. (5), inserted provision that the report referred to in par. (2) shall include an actuarial opinion by the Chief Actuary of the Social Security Administration certifying that the techniques and methodologies used are generally accepted within the … · (c)
• Pub. L. 98–21, §142(a)(1), substituted reference to January 1988 for reference to January 1983, and inserted ", subject to paragraph (5)," after "such Trust Fund, or". · (l)
• Pub. L. 98–21, §142(a)(2)(A), substituted "on the last day of each month after such loan is made" for "from time to time", substituted "the total interest accrued to such day" for "interest", and inserted "(even if such an investment would earn interest at a rate different than the … · (l)
• Pub. L. 98–21, §142(a)(3), designated existing provisions as subpar. (A) and added subpars. (B) and (C). · (l)
• Pub. L. 98–21, §142(a)(4), added par. (5). · (l)
• Pub. L. 98–21, §152(a), added subsec. (m). · (m)

1981

• Pub. L. 97–123 added subsec. (l). · (l)

1980

• Pub. L. 96–403, §1(a), substituted in cl. (H) reference to Jan. 1, 1980, for Jan. 1, 1981; added cls. (I) and (J); redesignated as cl. (K) former cl. (I) substituting reference to Dec. 31, 1981, for Dec. 31, 1980; and redesignated as cls. (L) and (M) former cls. (J) and (K… · (b)
• Pub. L. 96–403, §1(b), substituted in cl. (H) reference to Jan. 1, 1980, for Jan. 1, 1981; added cls. (I) and (J); redesignated as cl. (K) former cl. (I) substituting reference to Dec. 31, 1981, for Dec. 31, 1980; and redesignated as cls. (L) and (M) former cls. (J) and (K… · (b)
• Pub. L. 96–265, §310(a), added subsec. (j). · (j)
• Pub. L. 96–265, §505(a)(5), added subsec. (k). · (k)

1977

• Pub. L. 95–216, §102(a)(1), substituted "(G) 1.55 per centum of the wages (as so defined) paid after December 31, 1977, and before January 1, 1979, and so reported, (H) 1.50 per centum of the wages (as so defined) paid after December 31, 1978, and before January 1, 1981, a… · (b)
• Pub. L. 95–216, §102(a)(2), substituted "(G) 1.090 per centum of the amount of self-employment income (as so defined) so reported for any taxable year beginning after December 31, 1977, and before January 1, 1979, (H) 1.0400 per centum of the amount of self-employment inco… · (b)

1976

• Pub. L. 94–202, §8(d)(1), incorporated changes in the operations and responsibilities of the Managing Trustee of the Trust Funds and the Secretary of Health, Education, and Welfare occasioned by changes in the annual method of reporting wages for social security purposes, by directi… · (g)
• Pub. L. 94–202, §8(d)(2), added par. (4). · (g)

1973

• Pub. L. 93–233, §7(a), substituted in: cl. (E) "January 1, 1974" for "January 1, 1978"; cl. (F) "December 31, 1973" and "January 1, 1978" for "December 31, 1977" and "January 1, 2011"; cl. (G) "1.2" for "1.5" per centum and "paid after December 31, 1977, and before January… · (b)
• Pub. L. 93–233, §7(b), substituted in: cl. (E) "January 1, 1974" for "January 1, 1978"; cl. (F) "0.815 of 1 per centum" for "0.84 per centum" and "as reported for any taxable year beginning after December 31, 1973, and before January 1, 1978" for "so reported for any taxab… · (b)

1972

• Pub. L. 92–603, §132(a), inserted "such gifts and bequests as may be made as provided in subsection (i)(1), and" after "in addition," in provisions preceding par. (1). · (a)
• Pub. L. 92–603, §132(b), inserted "such gifts and bequests as may be made as provided in subsection (i)(1), and" after "consist of" in provisions preceding par. (1). · (b)
• Pub. L. 92–603, §136(a), substituted "1.1" for "1.0" in cl. (E), "1.15" for "1.1" in cl. (F), and "1.5" for "1.4" in cl. (G). · (b)
• Pub. L. 92–336, §205(a), struck out "and" before "(D)", inserted reference to wages paid before January 1, 1973, in cl. (D), and added cls. (E), (F), and (G). · (b)
• Pub. L. 92–603, §136(b), substituted "0.795" for "0.75" in cl. (E), "0.84" for "0.825" in cl. (F), and "0.895" for "0.915" in cl. (G). · (b)
• Pub. L. 92–336, §205(b), struck out "and" before "(D)", inserted reference to self-employment income before January 1, 1973, in cl. (D), and added cls. (E), (F), and (G). · (b)
• Pub. L. 92–603, §305(a), inserted references to subchapter XVI of this chapter and provisions relating to the general revenues of the United States with respect to subchapter XVI of this chapter and to the appropriations made pursuant to section 1381 of this title. · (g)
• Pub. L. 92–603, §132(c), added subsec. (i). · (i)

1969

• Pub. L. 91–172, §1005(a), inserted reference to wages paid before Jan. 1, 1969, and inserted provision for the appropriation of amounts equal to 1.10 per centum of wages paid after Dec. 31, 1969. · (b)
• Pub. L. 91–172, §1005(b), inserted reference to self-employment income before Jan. 1, 1970, and inserted provision for the appropriation of 0.825 of 1 percent of the amount of self-employment income for taxable years beginning after Dec. 31, 1969. · (b)

1968

• Pub. L. 90–248, §110(a), designated existing provisions as cls. (A) and (B), inserted "and before January 1, 1968," after "1965," in cl. (B), and added cl. (C). · (b)
• Pub. L. 90–248, §110(b), designated existing provisions as cls. (A) and (B), inserted "and before January 1, 1968, and" after "1965," in cl. (B), and added cl. (C). · (b)
• Pub. L. 90–248, §169(a), substituted "April" for "March". · (c)
• Pub. L. 90–248, §169(b), inserted penultimate sentence for inclusion in reports of board of trustees to Congress of an actuarial analysis of the benefit disbursements made from the Federal Old-Age and Survivors Insurance Trust Fund with respect to disabled beneficiaries. · (c)

1965

• Pub. L. 89–97, §108(a)(1), inserted "(other than sections 3101(b) and 3111(b))" after "chapter 21" in two places. · (a)
• Pub. L. 89–97, §108(a)(2), inserted "(other than section 1401(b))" after "chapter 2" and "such subchapter or chapter". · (a)
• Pub. L. 89–97, §305(a), inserted "and before January 1, 1966," after "December 31, 1956," and "and 0.70 of 1 per centum of the wages (as so defined) paid after December 31, 1965, and so reported," after "1954,". · (b)
• Pub. L. 89–97, §305(b), inserted "and before January 1, 1966, and 0.525 of 1 per centum of the amount of self-employment income (as so defined) so reported for any taxable year beginning after December 31, 1965," after "December 31, 1956,". · (b)
• Pub. L. 89–97, §327, extended from once each six months to once each calendar year the minimum number of times the Board of Trustees must meet. · (c)
• Pub. L. 89–97, §108(a)(3), included the Federal Hospital Insurance Trust Fund and the Federal Supplementary Medical Insurance Trust Fund among the Trust Funds available for reimbursement of the Treasury for administrative costs of this subchapter and subchapter XVIII of this chapter… · (g)
• Pub. L. 89–97, §108(a)(4), inserted "imposed under section 3101(a)" after "the amount estimated by him as taxes". · (g)
• Pub. L. 89–97, §108(a)(5), inserted "(other than section 426 of this title)" after "this subchapter". · (h)

1960

• Pub. L. 86–778, §701(a)–(c), required the Board of Trustees to meet not less frequently than once each six months, struck out provisions from cl. (3) which required the Board to report immediately to the Congress whenever the Board is of the opinion that during the ensuing five fiscal … · (c)
• Pub. L. 86–778, §701(d), substituted "shall bear interest at a rate equal to the average market yield (computed by the Managing Trustee on the basis of market quotations as of the end of the calendar month next preceding the date of such issue) on all marketable interest-bearing obliga… · (d)
• Pub. L. 86–778, §701(e), substituted "public-debt obligations" for "special obligations" in two places. · (e)

1959

• Pub. L. 86–346 substituted "on original issue at the issue price" for "on original issue at par". · (d)

1958

• Pub. L. 85–840 provided that benefit payments required to be made under subsection (b), (c), or (d) of section 402 of this title to individuals entitled to benefits on the basis of the wages and self-employment income of an individual entitled to disability insurance benefits be made o… · (h)