S. 2184 (105th): Social Security KidSave Accounts Act

Introduced:
Jun 17, 1998 (105th Congress, 1997–1998)
Sponsor:
Sen. Robert Kerrey [D-NE]
Status:
Died (Referred to Committee)
See Instead:
This bill was re-introduced as S. 3200 (106th) on Oct 12, 2000.

The bill’s title was written by the bill’s sponsor. S. stands for Senate bill.

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Status

This bill was introduced on June 17, 1998, in a previous session of Congress, but was not enacted.

Progress
Introduced Jun 17, 1998
Referred to Committee Jun 17, 1998
Cosponsors
3 cosponsors (3D) (show)
Committees

Senate Finance

The committee chair determines whether a bill will move past the committee stage.

Full Title

A bill to amend the Social Security Act to provide each American child with a KidSave Account.

Summary

No summaries available.

Text

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Last updated Jun 17, 1998.
8 pages

Primary Source

View on THOMAS (The Library of Congress)

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Citation

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GovTrack’s Bill Summary

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Library of Congress Summary

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.

6/17/1998--Introduced.
Social Security KidSave Accounts Act - Amends title II (Old Age, Survivors and Disability Insurance) (OASDI) of the Social Security Act to create a new part B (KidSave Accounts). Directs the Commissioner of Social Security to establish in the name of each individual born on or after January 1, 1997, an individual retirement account known as a KidSave Account. Requires the Secretary of the Treasury to transfer from the Federal OASDI Trust Fund to the Commissioner for crediting to each account holder's KidSave Account:
(1) $1,000, on the date such individual's KidSave Account is established, in the case of any individual born on or after January 1, 1999; plus
(2) in the case of any individual born on or after January 1, 1997, $500 on each of the individual's first five birthdays occurring on or after January 1, 2002.
Establishes in the Treasury the KidSave Investment Fund in the same manner as the Thrift Savings Fund under the Federal Employees Retirement System (FERS). Establishes the KidSave Investment Fund Board in the Social Security Administration in the same manner as the Federal Retirement Thrift Investment Board under the FERS Thrift Savings Program. Requires the KidSave Investment Fund to be managed in the same manner as the FERS Thrift Savings Fund. Makes appropriations to the Federal OASDI Trust Fund of any sums necessary to carry out the KidSave Accounts program.

House Republican Conference Summary

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No summary available.

House Democratic Caucus Summary

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The bill contains the following citations to other parts of U.S. law:

United States Code

The United States Code is the compilation of permanent laws enacted by Congress. Temporary and other non-permanent laws do not appear in the United States Code. (About half of the United States Code is the law itself, called positive law. The other half is merely a compilation of the laws but has no legal significance.)

Other Citations

  • 5 U.S.C. Chapter 84