Social Security and Medicare Lock-Box Act

Creates two new internal “Surplus Protection” accounts inside the Social Security Old‑Age and Survivors Insurance Trust Fund and the Medicare Part A (Hospital Insurance) Trust Fund and requires the Treasury/Managing Trustee to transfer each year amounts equal to the annual calculated surplus into those accounts for fiscal years after 2025. Prohibits the Managing Trustee from investing the balances in those accounts (unless a later law expressly permits different investments) and establishes a temporary executive‑branch Commission to study alternative investment options for those trust funds and report recommendations to the President and Congress by October 1, 2025.