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Separate election of trust fund officers

1. All trust funds established to accumulate funds contributed by individuals for their future benefit under a program of entitlement shall be separately administered from the funds of the United States government, and shall not be incoporated into or co-mingled with budgeted funds.

2. All said trust funds shall be administered by a Board of Trusees of six persons. These Trustees shall be elected directly by all eligible voters at the same time as the election for President and Vice President. The trustees shall serve for a term of office of eight years, with half of the Board of Trustees elected at each election (thus staggering their terms). All Trustees shall be subject to the same eligibility for office requirements as apply to the offices of President and Vice President.

3. The Board of Trustees of such trust funds shall be authorized to invest said funds in any income-earning security or asset domiciled within the United States, excepting ownership shares of private enterprises.

(This gets the Social Security and Medicare trust funds back to a true lockbox and out of the grubby hands of Congress. These are set up as true sovereign wealth funds rather than the funny money we have now. The separate, direct election of trustees assures that these will be maintained for the benefit of the beneficiaries rather than the politicians. Article 3 means that these funds will be able to be invested in a more diversified portfolio than just US Treasury securities, allowing for a better rate of return, and eliminating monetary policy game playing with these funds. The trust funds will not be allowed to invest in common stock, and thus won't open the door to socialistic public ownership of private enterprises.)

stefan_stackhouse, 18.06.2012, 16:33
Idea status: under consideration

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