Retirement Security Act of 2001
Last action on Jun 20, 2001Referred to the Subcommittee on Social Security.
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Summary
Retirement Security Act of 2001 - Amends title II (Old Age, Survivors and Disability Insurance) of the Social Security Act to create a new part B (Individual Retirement Investment Program) providing for personal social security investment accounts (investment accounts) for certain new social security account holders.
Amends the Social Security Amendments of 1983 and the Internal Revenue Code to provide for financing of initial Government contributions to investment accounts and for the tax treatment of amounts contributed to, and distributed from, such accounts.
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