The commission could propose changes affecting benefits, premiums, and trust fund solvency that influence retirement security and health costs.
Establishes a legislative-branch Commission on Sustaining Medicare and Social Security to study and recommend reforms.
Requires a report within one year of the commission's first meeting covering alternative inflation indexes, premium formulas, sustainability reforms, and fraud prevention.
Sets commission membership at 11 appointed members, naming which leaders make appointments and including SSA Commissioner and CMS Administrator or designees.
Authorizes $2,000,000 for the commission and limits its existence to termination 60 days after submitting the required report.
No hearings or votes scheduled.