The Secretary of Treasury is the Chair of the Boards of Trustees of the Social Security and Medicare trust funds. The Secretary serves with five other trustees, three from the Federal government (the Commissioner of Social Security, the Secretary of Health and Human Services and the Secretary of Labor) and two public trustees who are appointed by the President and confirmed by the Senate.
Each year the trustees provide Congress with a detailed accounting of the current and projected financial status of the Social Security and Medicare trust funds. Two reports are issued, one for Social Security and one for Medicare.