Senator Logaglio, Senator Scorsone, and Senator Beard

Bill Topic: Social Security

1. Be it enacted by the Members of the McG Model Congress
2. of the United States of America in Congress assembled,
3. Section 1. Title
4.Perserving Economic Stability for Both the Youth and the Elderly
5. Section 2. Purposes
6.To Ensure that Future Generations Have Social Security.
7.To make sure that the people who pay taxes for social security now will be able to reap the benefits of it when they retire.
8. To find a way, privately or publically, for everyone who works and contributes to the economy, regardless of income, to benefit from social security
9.For people who have the willingness and the economic stability to be able to control there own investments.
10.For those who contribute to the economy but are incapable of adequately providing for their future to be assured stability in retirement
11. To create a public account for social security for those who can not provide for 13. their retirement.
12. Section 3. Eligibility
14.Anyone who works the 40 quarters required to receive social security and reaches
15. the age of retirement will be eligible to benefit from social security reform.
16. Section 4: Terms and Benefits
17. Whenever citizens pay taxes they will pay a social security tax and instead of that 18. tax going into a national poll the majority of that tax will go directly to an 19.account for them and they will have the power to invest it however they see fit. 21. They will not be able to access and withdraw from this account until they have 22. met the requirements to receive social security. The minority of the tax that 23.citizens will pay for social security will go into a national account. This account 24. 25. will only be accessible upon meeting the requirements by citizens who have paid 26. tax partially or in full but because of problems with economic stability such as low 27.income still do not have enough means to retire safely. This will get rid of the
28. strain on national social security because people will have to power to control 29. their own investments for their retirement. Also they will be contributing to a
30. national account that will go to those who meet the requirements for social but do not have the means to manage their own investments.
32. Section 6: Administration US Department Of Social Security

Bill Resources: