SSIRA Bill - Full Text

The complete legislative language of the Social Security Independence and Reform Act of 2025

SSIRA Package Index

SSIRA BILL (~1,300 WORDS)

SSIRA CONTEMPLATIONS (~3,000 WORDS)

SSIRA FINANCIAL IMPACT DOCUMENT (~300 WORDS)

SSIRA FINANCIAL MODEL / PRO FORMA (~400 WORDS + TABLES)

This page contains the full official text of the SSIRA bill, structured by section. You may jump to any part below:

Section 1: Short Title and Purpose

(a) Short Title — This Act may be cited as the "Social Security Independence and Reform Act of 2025" or "SSIRA".

(b) Purpose — SSIRA establishes a retiree-only program to replace the Federal Insurance Contributions Act (FICA) payroll tax and the Old-Age, Survivors, and Disability Insurance (OASDI) Trust Funds, creating the Social Security Investment Fund (SSIF) to deliver benefits matching pre-retirement net income, capped above the national median income, and private health insurance for individuals aged 67 or older, or certified disabled, with sufficient years of contributions. Revenue streams include foreign company taxes, a payroll tax on non-citizen workers via the Work Authorization Permit (WAP) system with amnesty fees, visa fees, remote worker taxes, a THC sales tax with state opt-in, and U.S. worker contributions shifting from OASDI to SSIF, phasing out over time. SSIF invests aggressively to maximize principal growth, disbursing benefits and health insurance at appropriate intervals — all funds are irrevocably dedicated to retirees. Congress may appoint SSIF Board members, review audits, investigate operations, and impeach Board members for cause but has no authority to redirect funds, alter execution, or terminate SSIRA — retiree security is absolute, with no shortfall beyond this Act's provisions.

(c) Pay-to-Play Integrity — Non-citizen workers earn contribution credit through WAP over sufficient years — states not opting into THC tax face retiree benefit reductions. SSIF audits and health insurance administration are conducted by private entities to ensure trust and efficiency. Program integrity demands contributions for benefits, securing SSIF's solvency without external reliance.

(d) Supporting Documents — Contemplations and financial projections, incorporated herein as part of this Act, detail implementation mechanics and estimated outcomes, providing guidance without binding numerical targets or timelines.

Section 2: Definitions

(a) Definitions

(1) Eligible Retiree — An individual aged 67 or older, or certified disabled under SSA standards (20 CFR 404.1505), with sufficient years of contributions to FICA or SSIF, verified by SSA records — excludes non-contributors; only eligible retirees receive benefits and health insurance from SSIF.

(2) Pre-Retirement Net Income — Annual income after federal taxes and FICA, averaged over the highest-earning years before retirement, per IRS Form W-2, adjusted for inflation — SSIF benefits match this, capped per subsection (a)(3).

(3) National Median Income — Median individual income per Census Bureau data, adjusted annually — SSIF benefit cap exceeds this amount, ensuring benefits align with economic standards for eligible retirees.

(4) Social Security Investment Fund (SSIF) — A Treasury trust fund (SSIF-2026-001) established under this Act, replacing OASDI, funded by revenue streams in Section 4 to grow principal sufficient for retiree benefits and health insurance — all funds are irrevocably dedicated to retirees, disbursing annually upon readiness.

(5) Work Authorization Permit (WAP) — A renewable 1-year permit issued by DHS to non-citizen workers paying a payroll tax under Section 4(b)(2), requiring sufficient years of contributions for SSIF eligibility — enforces pay-to-play for non-citizen participants.

(6) THC Contribution State — A state opting into the THC sales tax by an appropriate deadline per Section 4(d) — non-contributing states face retiree benefit reductions.

(b) Scope — Terms ensure SSIF targets eligible retirees exclusively — funds remain locked for retiree benefits and health insurance per Section 1(b); private entities audit SSIF and administer health insurance to maintain program integrity without shortfall beyond this Act.

Section 3: Social Security Investment Fund

(a) Establishment — Effective upon enactment, the "Social Security Investment Fund" (SSIF) is established as a Treasury trust fund (SSIF-2026-001), replacing OASDI for eligible retirees per Section 2(a)(1) — all revenue from Section 4 is irrevocably dedicated to retiree benefits and health insurance, commencing operations per Section 6(a).

(b) Funding Goal — SSIF accumulates a principal sufficient to disburse benefits to eligible retirees upon OASDI depletion, growing over time to sustain benefits and add health insurance at a later stage — all funds are retiree-only, supported by OASDI transfer and annual revenue without shortfall beyond this Act.

(c) Investment Strategy — SSIF invests revenue through a competitive, high-yield strategy spanning diverse assets — stocks, bonds, real estate, cryptocurrency, and other opportunities — managed by 50 top-tier financial professionals under Board oversight. The Board shall pursue aggressive, speculative investments targeting a minimum average annual return of 7–8% over the long term, maximizing principal growth to fund retiree benefits and health insurance, with all returns irrevocably dedicated to retirees and no reliance on external funds beyond Section 4.

(d) Governance — An independent Board of 7 financial experts, appointed per Section 1(b) with staggered terms, oversees SSIF investments and operations — Board submits annual reports to SSA; a private auditing firm reviews SSIF revenue and disbursements annually per Section 5(c) — all funds remain dedicated to retirees, maintaining program integrity without shortfall.

(e) OASDI Transition — OASDI operates until its projected depletion, funded by FICA per Section 6(c) — upon depletion, OASDI transfers its remaining balance to SSIF within 30 days via Treasury electronic funds transfer; SSIF assumes retiree benefits thereafter per Section 5(a) — all transferred funds are irrevocably dedicated to retirees, ensuring seamless benefit continuation without disruption.

Section 4: Revenue Sources

(a) Collection — Starting upon SSIF establishment, SSIF collects annual revenue from the following streams, deposited monthly into SSIF-2026-001 via Treasury electronic funds transfers — all funds are irrevocably dedicated to retiree benefits and health insurance per Section 1(b):

(b) Enforcement — IRS and DHS ensure compliance — WAP tracks non-citizen payroll tax via 1-year renewable permits; IRS audits foreign firms and U.S. employers; DHS enforces visa and WAP compliance — all penalties and funds are deposited into SSIF-2026-001, supporting retiree-only goals without shortfall.

(c) Revenue Goal — Annual collections from all streams ensure SSIF achieves a principal sufficient to fund retiree benefits and health insurance — funds are retiree-only, with no reliance beyond this Act per Section 6(d).

(d) THC Revenue Adjustment — States not opting into the THC sales tax by an appropriate deadline contribute annually thereafter, or face retiree benefit reductions enforced by SSA — funds are deposited into SSIF-2026-001, reinforcing pay-to-play integrity without shortfall beyond this Act.

Section 5: Benefits and Health Insurance

(a) Retirement Benefits — Commencing upon OASDI depletion, SSIF disburses annual benefits to eligible retirees per Section 2(a)(1), matching pre-retirement net income up to a cap above the national median income per Section 2(a)(3) — benefits derive from SSIF's principal, sustained for additional retirees over time — all funds are irrevocably dedicated to retirees, with adjustments per subsection (d); SSA ensures payments commence post-OASDI depletion, per Section 3(e).

(b) Health Insurance — At a later stage, when SSIF principal suffices, SSIF provides private health insurance for eligible retirees, funded from its principal — coverage mirrors Medicare Parts A, B, and D, administered by a private company selected via SSA bidding — all health insurance funds are irrevocably dedicated to retirees, subject to adjustments per subsection (d); SSA ensures coverage begins seamlessly.

(c) Administration — SSA oversees benefits through existing infrastructure, transitioning retirees from OASDI upon depletion, per Section 6(c) — eligibility is verified within 90 days using SSA records; appeals are processed within 90 days — an independent private auditing firm reviews SSIF revenue and disbursements annually, reporting to SSA — all costs are funded from SSIF's operational budget, capped at a modest percentage of revenue per Section 6(a).

(d) Benefit Adjustment for Non-THC-Contributing States — States not contributing annually per Section 4(d) face retiree benefit reductions, applied uniformly following non-compliance — SSA notifies affected retirees within 60 days; all funds, including penalties, are deposited into SSIF-2026-001 — reductions enforce pay-to-play integrity without shortfall beyond state contributions or retiree adjustments herein.

Section 6: Funding and Transition

(a) Initial Funding — For the fiscal year following enactment, SSIF receives funds to initiate operations — establishing the Work Authorization Permit (WAP) system to collect non-citizen payroll taxes per Section 4(b)(2), and enhancing IRS capacity to collect visa-related taxes per Section 4(a) — Treasury disburses funds by October 1 prior to SSIF launch, via electronic funds transfer into SSIF accounts; WAP deploys within 180 days — all initial funds are irrevocably dedicated to SSIF operations, with subsequent costs capped at a modest percentage of annual revenue.

(b) Ongoing Revenue Funding — Starting upon SSIF establishment, SSIF receives annual revenue from streams in Section 4 — U.S. worker contributions fund OASDI until depletion, then shift to SSIF; THC sales tax scales over time — all revenues are irrevocably dedicated to SSIF, deposited monthly into SSIF-2026-001, ensuring principal growth sufficient for benefits and health insurance.

(c) OASDI Transition — OASDI disburses benefits until its projected depletion, funded by FICA — upon depletion, OASDI transfers its remaining balance to SSIF within 30 days via Treasury electronic funds transfer; FICA shifts to SSIF until principal suffices, then halves, declining annually until eliminated over time — IRS notifies employers within 7 days of adjustments; SSA transitions retirees upon depletion — all funds are irrevocably dedicated to SSIF, ensuring benefit continuity without shortfall.

(d) Revenue Continuity — Should any revenue stream fall below projections, IRS adjusts within 90 days — states failing to contribute per Section 4(d) trigger benefit reductions per Section 5(d) — all adjustments ensure SSIF principal grows sufficiently without shortfall beyond this Act.

Section 7: Launch and Authority

(a) Launch — SSIRA commences upon SSIF establishment — SSIF-2026-001 activates with initial revenue per Section 6; Work Authorization Permit (WAP) issues 1-year renewable permits to non-citizen workers within 180 days, collecting payroll tax per Section 4(b)(2); IRS initiates foreign company tax collection shortly thereafter; THC sales tax begins upon federal legalization, with state opt-in by an appropriate deadline — all funds are irrevocably dedicated to retirees, ensuring principal growth without shortfall beyond this Act.

(b) Authority — Within a reasonable period post-enactment, Treasury, DHS, and SSA issue regulations — Treasury sets THC tax and FICA adjustments, halving when SSIF principal suffices and phasing out over time; DHS enforces WAP payroll tax; SSA oversees benefit disbursement per Section 5 — IRS and DHS enforce revenue collection — all authority ensures SSIF principal grows sufficiently without shortfall beyond this Act.

(c) Enforcement — SSA coordinates with IRS and DHS to verify revenue and eligibility — DHS tracks WAP holders; IRS imposes penalties on non-compliant employers within 60 days of audit findings — all enforcement funds are deposited into SSIF-2026-001, reinforcing retiree-only mandate without shortfall beyond this Act.

SSIRA Contemplations

(a) Legislative Intent — SSIRA replaces FICA and OASDI with a retiree-only SSIF, addressing OASDI's projected depletion. It aims for a self-sustaining fund, growing principal to deliver benefits and health insurance, contemplated to scale significantly over decades — all locked for retirees, avoiding shortfall beyond this Act's provisions.

(b) Purpose Detail — Envisions benefits matching pre-retirement net income and health insurance later, funded by diverse revenue. Congress oversees via Board appointments, but funds stay untouchable.

(c) Scope Specifics — Targets 30–40M retirees over time, with principal growth ensuring benefits and health, per 7–8% returns.

(d) Pay-to-Play Rationale — WAP's 20% tax on 10M non-citizens requires years of contributions for eligibility. THC opt-in or per-retiree cuts enforce state participation. Additional WAP tracking mechanisms consider portal integration and penalties.

(e) Stakeholder Impacts — Retirees gain benefits and health, workers see FICA relief, non-citizens earn eligibility, states balance THC contributions vs. cuts.

Note: Additional Contemplations subsections (2–7) and deep financial modeling to follow.

Contemplations: Section 2

(a) Definition Rationale — Definitions ensure SSIF’s retiree-only focus, linking revenue (Section 4) to benefits (Section 5) without external reliance.

(b) Eligible Retiree Specifics — Aged 67+ or disabled (20 CFR 404.1505), with sufficient years (e.g., 10+), targeting 30–40M by 2055 (SSA 2023). Verified by SSA in 90 days, appeals in 90 days.

(c) Pre-Retirement Net Income Calculation — Averages highest-earning years (e.g., 5, IRS W-2), adjusted (2–3% inflation) — $40–50K contemplated, capped 10–20% above median ($50–70K).

(d) National Median Income Adjustment — Annual Census updates (e.g., $50–70K range), capping benefits at $55–80K, covering 90–95% of retirees.

(e) SSIF Projections — Grows principal ($40–110T by 2040s–2050s) at 7–8%, disbursing $1–3T benefits plus $400–600B health, locked via SSIF-2026-001.

(f) WAP Mechanics — DHS permits for 10M workers ($100–150B), 10+ years for eligibility, enforced via portal, E-Verify, $5–10B fines.

(g) THC Contribution State Incentive — 20 states opt-in ($20–50B, 2035–2055); 30 non-opt-in states face $50–100/retiree cuts ($1–2B), reinforcing pay-to-play.

Contemplations: Section 3

(a) Establishment Intent — SSIF replaces OASDI (depleted 2035–2040) with a retiree-only fund, scaling principal ($40–110T) via 7–8% returns.

(b) Funding Goal Breakdown — Sufficient principal by 2040s ($40–50T) for benefits ($1–2T), growing to 2050s ($90–110T) for health ($400–600B), per revenue and returns.

(c) Investment Strategy Details — 50 pros pursue speculative assets (stocks, crypto), targeting 7–8% — e.g., $45–50T by 2040s, $95–110T by 2050s — locked for retirees.

(d) Governance Structure — 7 experts, staggered terms, annual audits ($5–10M/year), Congress oversees but can’t touch funds.

(e) OASDI Transition Mechanics — OASDI runs to depletion (2035–2040), transfers $500–900B, SSIF takes over benefits ($1–2T) seamlessly.

Contemplations: Section 4

(a) Revenue Intent — Diverse streams ensure SSIF growth ($1–1.5T early, $500B–1T later), all retiree-dedicated.

(b) Revenue Stream Breakdown — Foreign ($100–150B), WAP ($100–150B), visas ($1–2B), remote ($14–20B), THC ($20–50B), FICA ($900B to 0), visa-related ($5–10B).

(c) Enforcement Mechanics — WAP portal, E-Verify ($5–10B fines), IRS audits ($20–25B), DHS enforces — all SSIF-bound.

(d) THC Revenue Adjustment Specifics — 20 states scale $20–50B (2035–2055), 30 non-opt-in lose $1–2B via $50–100/retiree cuts.

(e) Revenue Goal Contemplation — $1–1.5T early, $500B–1T later, driving $45–110T principal by 2050s at 7–8%.

Contemplations: Section 5

(a) Benefits Intent — Benefits ($1–2T) start post-depletion (2035–2040), health ($400–600B) later (2040s–2050s), all SSIF-funded.

(b) Retirement Benefits Structure — $40–50K/retiree for 30–40M (2035–2055), $1–2T early, $2–3T later, monthly via SSA.

(c) Health Insurance Specifications — Post-2040s, $15–20K/retiree for 30–35M, $400–600B from $90–110T principal, privately administered.

(d) Administration Procedures — SSA transitions 30–40M, audits at 0.5–1% revenue ($5–15B), 90-day verification/appeals.

(e) THC Adjustment Mechanics — $50–100/retiree cuts ($20–40M) for non-THC states, 0.1–0.2% of benefits, SSIF absorbs.

Contemplations: Section 6

(a) Funding and Transition Intent — Seeds SSIF ($100–200M), shifts OASDI ($500–900B) post-depletion (2035–2040), FICA phases out (2050s).

(b) Initial Funding Allocations — $50–100M WAP, $50–100M IRS, $100–150B first-year revenue, costs 0.5–1%.

(c) Ongoing Revenue Funding Projections — $1–1.5T early, $500–700B later, FICA halves at $40–50T (2037–2045), out by 2050s.

(d) OASDI Transition Mechanics — $500–900B transfer, $1–2T benefits start, FICA adjusts within 7 days.

(e) Revenue Continuity Procedures — IRS tweaks ($20–25B fines), THC cuts ($1–2B), ensures $40–110T growth.

Contemplations: Section 7

(a) Launch Intent — SSIRA starts late 2020s, WAP and taxes flow, $150–200B year one, all retiree-locked.

(b) Launch Timelines — WAP in 180 days ($100–150B), foreign tax in 60–90 days ($100–150B), THC post-legalization ($20–50B).

(c) Regulatory Specifics — Treasury sets FICA/THC, DHS WAP ($5–10B fines), SSA benefits, all by late 2020s.

(d) Authority Mechanics — SSA/DHS/IRS sync (30–40M retirees, $1–1.5T), FICA halves 2037–2045, out 2050s.

(e) Enforcement Procedures — DHS fines ($5–10B), IRS penalties ($20–25B), scales to $40–110T principal.

SSIRA Financial Impact Document

Overview: The SSIRA of 2025 establishes a worker-funded Social Security Investment Fund (SSIF) to replace FICA and OASDI, delivering retiree benefits and health insurance. This section outlines the projected financial impacts, revenue streams, principal growth, and disbursements based on bill sections and contemplations.

Revenue Streams:

SSIF Principal Growth:

Disbursements:

SSIRA Financial Model / Pro Forma

Purpose: This pro forma projects SSIRA’s financial trajectory—revenue, SSIF principal growth, and disbursements—from launch through 2055, modeling ranges (7–8% returns) and adjustable timelines (e.g., 2035–2040 OASDI depletion).

Assumptions:

Key Outputs:

Scenarios: