Social Security and Medicare Lock-Box Act

This bill creates two separate "lock-box" accounts: one for Social Security surplus funds and one for Medicare Part A surplus funds. Starting after fiscal year 2025, any surplus in these trust funds (defined as tax revenues minus benefits paid) must be transferred to these dedicated accounts instead of being invested in U.S. Treasury securities. The funds in these accounts cannot be invested by the trust fund managers. The bill also establishes a bipartisan commission to study potential alternative investment options for these trust funds, with a report due by October 2025. This directly affects how Social Security and Medicare Part A trust fund surpluses are handled and protected.