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<br/>3/2/2005--Introduced.<br/>Social Security KidSave Accounts Act - Amends title II (Old Age, Survivors and Disability Insurance) (OASDI) of the Social Security Act to create a new part B (KidSave Accounts). Directs the Commissioner of Social Security to establish in the name of each individual born on or after January 1, 2006, an individual retirement account in the Thrift Savings Fund known as a KidSave Account. Requires such Account to be treated in the same manner as an account maintained by a Federal employee under the Federal Employees Retirement System (FERS) (into which contributions by or on behalf of the individual are deposited into one or more designated investment funds).<br/>Requires the Secretary of the Treasury to transfer from the Federal Old-Age and Survivors Insurance Trust Fund to each account holder's KidSave Account: (1) $2,000, on the date such individual's KidSave Account is established; plus (2) other, including rollover, contributions, by or on behalf of the individual, the aggregate amount of which in the case of any individual below age 19 is capped at $500 for any taxable year. Provides for the treatment of distributions.<br/>Amends the Internal Revenue Code to exclude from gross income any rollovers into a KidSave Account.

introduced 37945 'act':5 'secur':2 'kidsav':3 'social':1 'account':4 36492 short introduced 37945 'act':6 'amend':2 'child':11 'secur':5 'kidsav':14 'provid':8 'purpos':19 'social':4 'account':15 'american':10 36493 official introduced 37945 1109739600 Wed Mar 02 00:00:00 -0600 2005 78429 W000273 1957-07-07 Gerald 'jerri':5 'gerald':1,3,6 'weller':2,4,7 M 400429 Weller Jerry_Weller C. Gerald Weller Jerry N00004745 5661 Republican Christian Gerald Weller B000944 1952-11-09 713 Hart Senate Office Building http://brown.senate.gov/contact/ 202-228-6321 Sherrod 'd':4 'oh':5 'sen':1 'brown':3,7,9 'sherrod':2,6,8 M 400050 Brown Sherrod_Brown Sen. Sherrod Brown [D, OH] N00003535 13225 Democrat 202-224-2315 Lutheran OH Sherrod Brown 3.57575757575758 http://brown.senate.gov/ SherrodBrownOhio introduced 37945 1109739600 Wed Mar 02 00:00:00 -0600 2005 78429 action 37945 1109739600 Wed Mar 02 00:00:00 -0600 2005 78430 Referred to the House Committee on Ways and Means.