Investment of the Social Security Trust Funds: Hearing Before the Subcommittee on Social Security of the Committee on Ways Ang Means, House of Representatives, Ninety-seventh Congress, First Session, October 16, 1981U.S. Government Printing Office, 1981 - 38 pages |
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Page 4
... financing - whereas in funded private pension plans investment income is very significant - neither is it of negligible importance . For example , in 1980 , the interest income of the trust funds was only 2.46 percent of the total ...
... financing - whereas in funded private pension plans investment income is very significant - neither is it of negligible importance . For example , in 1980 , the interest income of the trust funds was only 2.46 percent of the total ...
Page 7
... financing for social security . Then , too , private investors are not given this " best of both worlds " possibility . The present investment procedures for the trust funds is proper and equitable to both these funds and to the General ...
... financing for social security . Then , too , private investors are not given this " best of both worlds " possibility . The present investment procedures for the trust funds is proper and equitable to both these funds and to the General ...
Page 10
... financing for Social Security . And then too , private investors are not given this " best of both worlds " possibility . SUMMARY AND CONCLUSIONS The present investment policies and procedures for the Social Security trust funds is ...
... financing for Social Security . And then too , private investors are not given this " best of both worlds " possibility . SUMMARY AND CONCLUSIONS The present investment policies and procedures for the Social Security trust funds is ...
Page 20
... 't that a reasonable thing to assume ? Mr. STALNECKER . Yes . In terms of the ultimate financing of the Federal Government , the outlay would require additional cash , yes . Mr. JACOBS . Either that or some big word like 20.
... 't that a reasonable thing to assume ? Mr. STALNECKER . Yes . In terms of the ultimate financing of the Federal Government , the outlay would require additional cash , yes . Mr. JACOBS . Either that or some big word like 20.
Page 24
... Financing Administration signed statements in the trustees reports that the actuarial methodology is proper , and the assumptions seem reasonable . These assumptions are de- veloped by consultation with the staffs of the other trustees ...
... Financing Administration signed statements in the trustees reports that the actuarial methodology is proper , and the assumptions seem reasonable . These assumptions are de- veloped by consultation with the staffs of the other trustees ...
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Common terms and phrases
$1 billion 8.4 percent actuarial ARCHER average coupon rate average market yield average market-yield rate benefits billion dollars bonds borrow cash needs certificates Chairman PICKLE CONGRESS THE LIBRARY current high interest durations until maturity effective rates ended June 30 Federal funds deficit Government obligations high interest rates higher than short-term highest current yield increase the deficit Insurance Trust Fund interest basis interest income investment experience investment managers investment policy investment procedure J. J. PICKLE JACOBS June 30 LIBRARY OF CONGRES LIBRARY OF CONGRESS long-term rates lower managing trustee market rates maturity dates MYERS OASDI OASI obligations issued Old-Age and Survivors prudent investor question rate of return redemption rity Secretary security trust funds sell short-term rates Social Security Administration social security fund social security trust special issues STALNECKER statement subcommittee total portfolio Treasury securities trust fund assets trust fund investment unified budget yielding securities
Popular passages
Page 8 - There is hereby authorized to be appropriated to the Account for each fiscal year, beginning with the fiscal year ending June 30, 1937, an amount sufficient as an annual premium to provide for the payments required under this title, such amount to be determined on a reserve basis in accordance with accepted actuarial principles...
Page 14 - Such special obligations shall bear interest at a rate equal to the average rate of interest, computed as to the end of the calendar month next preceding the date of such issue, borne by all marketable interestbearing obligations of the United States then forming a part of the public debt ; except that where such average rate is not a multiple of one-eighth of 1 per centum...
Page 12 - The social security trust funds consist of four separate funds — the Old-Age and Survivors Insurance Trust Fund, the Disability Insurance Trust Fund, the Hospital Insurance Trust Fund, and the Supplementary Medical Insurance Trust Fund.
Page 8 - This method would be open to some objection on the grounds mentioned previously — government entry into private fields of activity. Even more serious is the argument that any use of public funds for such purposes should be under the control of the elected representatives of the people (Congress) rather than...
Page 7 - I am pleased to be here today to discuss the investment policy of the four Social Security trust funds— the Old-Age and Survivors Insurance Trust Fund, the Disability Insurance Trust Fund, the Hospital Insurance Trust Fund, and the Supplementary Medical Insurance Trust Fund.
Page 8 - ... private industrial economy, which would, in effect, result in "socialism by the back-door method." Another practical disadvantage would be the need for a far-reaching and deep-searching investment policy that would permit the trust funds to obtain an adequate rate of interest with reasonable security. Under such a policy the government would, in effect, be setting itself up as a rating organization, since the investment procedures would naturally have to be open to full public view. If no preference...
Page 19 - You have proved your case beyond a peradventure of a doubt. You have quoted statistics, you have proved mathematically that that farm could not possibly flood. "But I just want to ask you one question : Have you ever been down on that farm when it was raining?" I know that the Architect and all the smart people under the employ of the House of Representatives can give you a thousand reasons why this building should be erected. I would only answer with one specific example, and that is : At the Pentagon,...
Page 1 - Chairman PICKLE. The Chair would ask the subcommittee to come to order.
Page 4 - Treasury), (2) the preparation and mailing of benefits checks (which is performed by the Department of the Treasury), and (3) the management of the trust funds (which is performed by the Secretary of the Treasury as managing trustee). The Social Security Administration, a constituent unit of the Department of Health, Education, and Welfare, headed by the Commissioner of Social Security, administers the program.
Page 4 - In 1960, this interest basis was changed to the average market yield rate on obligations not due or callable for at least 4 years from the date of determination. The...