The 2001 President's Commission to Strengthen Social Security
CharterOfficial Designation: President's Commission to Strengthen Social Security
Scope and Objectives: Executive Order 13210 establishes the President's Commission to Strengthen Social Security. The Commission will provide bipartisan recommendations to the President for modernizing and restoring fiscal soundness to the Social Security System according to the following principles: modernization must not change Social Security benefits for retirees or near retirees; the entire Social Security surplus must be dedicated to Social Security only; Social Security payroll taxes must not be increased; the Government must not invest Social Security funds in the stock market; modernization must preserve Social Security's disability and survivors components; and modernization must include individually controlled, voluntary personal retirement accounts, which will augment the Social Security safety net.
Duration: The Commission will exist for approximately seven months from the date of the Charter.
Reporting Relationship: The Commission reports to the President.
Support: The Social Security Administration will provide administrative support for the Commission's activities.
Duties: The Commission will submit bipartisan recommendations to the President to modernize and restore fiscal soundness to the Social Security System.
Costs: The estimated operating cost associated with supporting the Commission's function is $770,000. It is estimated that 3.0 FTEs will be required to support the Commission.
Meetings: It is anticipated that the Commission will have one meeting every 4 to 6 weeks over the next 6 months.
Date of Termination: The Commission will terminate 30 days after submitting its final report.
Charter Filing Date: May 21, 2001