President's Commission To Strengthen Social Security
Signed May 2, 2001·George W. Bush·66 FR 22895
Source
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Plain-language summary
Creates the President's Commission to Strengthen Social Security, a 16-member bipartisan panel with two co-chairs from different political parties, appointed by the President. The commission is directed to recommend ways to modernize Social Security's finances while following set principles: no benefit changes for retirees or near-retirees, dedicating the full Social Security surplus to the program, no payroll tax increases, no investment of funds in the stock market, preservation of disability and survivor benefits, and inclusion of voluntary personal retirement accounts. The Social Security Administration must provide administrative support and funding, and members serve without pay, though private citizens may receive travel expenses. The commission is to submit an interim report on challenges facing Social Security and evaluation criteria, followed by a final report with recommendations in fall 2001, timed by the co-chairs in consultation with the President. The commission terminates 30 days after submitting its final report.
Not written or reviewed by a person. Read the full order below for anything you intend to rely on.
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Legal standing
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Claimed authority
By the authority vested in me as President by the Constitution and the laws of the United States of America, including the Federal Advisory Committee Act, as amended (5 U.S.C. App.), and to preserve Social Security for senior Americans while building wealth for younger Americans, it is hereby ordered
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Disposition
Revoked by: EO 13316, September 17, 2003
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The order, in full
Executive Order 13210 of May 2, 2001
President's Commission To Strengthen Social
Security
By the authority vested in me as President by the
Constitution and the laws of the United States of
America, including the Federal Advisory Committee Act,
as amended (5 U.S.C. App.), and to preserve Social
Security for senior Americans while building wealth for
younger Americans, it is hereby ordered as follows:
Section 1. Establishment. There is established the
President's Commission to Strengthen Social Security
(Commission).
Sec. 2. Membership. The Commission shall be composed of
sixteen members appointed by the President, of which no
more than eight shall be members of the same political
party. The President shall also designate two members
of the Commission to act as co-chairs. The two co-
chairs shall not be members of the same political
party.
Sec. 3. Mission. The mission of the Commission shall be
to submit to the President bipartisan recommendations
to modernize and restore fiscal soundness to the Social
Security system according to the following principles:
(a) Modernization must not change Social Security
benefits for retirees or near-retirees;
(b) The entire Social Security surplus must be
dedicated to Social Security only;
(c) Social Security payroll taxes must not be
increased;
(d) Government must not invest Social Security
funds in the stock market;
(e) Modernization must preserve Social Security's
disability and survivors components; and
(f) Modernization must include individually
controlled, voluntary personal retirement accounts,
which will augment the Social Security safety net.
Sec. 4. Administration. (a) The Social Security
Administration shall, to the extent permitted by law,
provide administrative support and funding for the
Commission.
(b) Members of the Commission shall serve without
any compensation for their work on the Commission.
Members appointed from among private citizens of the
United States, however, while engaged in the work of
the Commission, may be allowed travel expenses,
including per diem in lieu of subsistence, as
authorized by law for persons serving intermittently in
Government service (5 U.S.C. 5701-5707), to the extent
funds are available.
(c) The Commission shall have a staff headed by an
Executive Director, who shall be selected by the
President. To the extent permitted by law, office
space, analytical support, and additional staff support
for the Commission shall be provided by executive
branch departments and agencies as directed by the
President.
(d) The Commission shall receive input from and
provide briefings to the Congress, by procedures
determined by the President in consultation with the
congressional leadership and the Commission. Public
hearings shall be held at the call of the co-chairs, in
consultation with the President.
(e) The functions of the President under the
Federal Advisory Committee Act, as amended, except for
those in section 6 of that Act, that are applicable to
the Commission, shall be performed by the Social
Security Administration,
in accordance with the guidelines that have been issued
by the Administrator of General Services.
Sec. 5. Reports. The Commission shall submit reports to
the President as follows: (a) Interim Report. An
interim report shall describe the challenges facing the
Social Security system and the criteria by which the
Commission will evaluate reform proposals. These
criteria may include but are not limited to: solvency,
sustainability, benefit adequacy, fair treatment across
generations and demographic groups, total annual cost
obligations, net impact on the Federal budget, impact
upon national savings, impact on workforce
participation, impact on employer-provided pension
plans, rates of return, and protections against
poverty.
(b) Final Report. The final report will set forth
the Commission's recommendations, in accordance with
its stated mission in section 3 of this order,
regarding how to strengthen Social Security with
personal accounts. The Commission shall submit its
final report during the fall of 2001. The submission
date shall be determined by the co-chairs in
consultation with the President.
Sec. 6. Termination. The Commission shall terminate 30
days after submitting its final report.
(Presidential Sig.)B
THE WHITE HOUSE,
May 2, 2001.Reproduced from the Federal Register plain-text record, signed May 2, 2001. Typesetting artifacts are removed; no wording is changed.