Reforming Social Security Bill

[Emsworth]

Reforming Social Security Bill

1. The Thrift Savings Plan is hereby amended to include "Lifecycle Funds." Lifecycle funds will be instated under the provisions provided by the Federal Retirement Thrift Investment Board in this report.

2. A program is hereby implemented that explores the idea of extending the benefits and privileges of the Thrift Savings Plan to the general populace.
     a. The said plan shall be first implemented on a trial basis with 500 randomly selected volunteers for each of the G, S, C, F, I, and L funds.
     b. This trial shall last for a duration of 12 months (3 years regular time), with a report being made every 6 months to the Senate by the Federal Retirement Thrift Investment Board.
     c. At any time before or after the 12 month deadline of the trial, the Senate of the Republic of Atlasia shall further explore the idea of extending the Thrift Savings Plan to the general public.
     d. If a plan is enacted extending the Thrift Savings Plan to the general populace it must include the following restrictions:
          i. The plan shall replace the Social Security benefits of any participant.
          ii. It shall not be required for any person to invest in the Thrift Savings Plan.
          iii. The plan shall be implemented over a period of twenty years under the guidance of the Federal Retirement Thrift Investment Board, with no participant being over the age of 50 at the time the plan is implemented.

Sponsor: Sen. True Independent

[Emsworth]

Would TI perhaps start debate by explaining the bill, its purposes, and its potential benefits, so that we may analyze it more closely?

[Emsworth]

First of all, this is supposed to simulate reality, and the retirement age would never be raised in the real world.

No, I don't think that this is necessarily the case. The retirement age has been raised in the past.

Also, deviating from the mistakes of reality is not something that should be opposed.

[Emsworth]

The bill is a trial bill, and is generally a very good idea. Obviously, my opinion on the actual idea would depend on the specific results of the trial (which could probably be provided by the GM after some time).

[Emsworth]

I propose this amendment:

Section Two, Clause B is hereby changed to:

 b. This trial shall last for a duration of 3 months, with a report being made every month to the Senate by the Federal Retirement Thrift Investment Board.

The question is on the above amendment. All those in favor, say Aye; those opposed, say No.

[Emsworth]

With six Ayes, the amendment is passed.

[Emsworth]

Is there any further debate on this bill?

[Emsworth]

With an abstention and five ayes, the bill has enough votes to pass. Senators have 24 hours to vote or change their votes.

[Emsworth]

There have voted:

Aye: 7
No: 0
Abstain: 1

The bill is passed and presented for the President's signature.