; (II) by substituting second for fourth each place it appears in clause (i) with respect to one of the public trustees appointed by the Speaker of the House of Representatives (as designated by the Speaker of the House of Representatives at the time of nomination); and (III) by substituting third for fourth each place it appears in clause (i) with respect to one of the public trustees appointed by the President pro tempore of the Senate (as designated by the President pro tempore of Senate at the time of nomination). . 4. Duties of the Board and the public trustees Section 201(c) of the Social Security Act, as amended by sections 2 and 3, is further amended by adding at the end the following: (3) (A) It shall be the duty of the Board of Trustees to— (i) hold the Trust Funds; (ii) report to the Congress not later than the first day of April of each year on the operation and status of the Trust Funds during the preceding calendar year (and during the preceding fiscal year) and on their expected operation and status during the next ensuing 75 calendar years (and during the next ensuing 75 fiscal years); (iii) report immediately to the Congress whenever the Board of Trustees is of the opinion that the amount of either of the Trust Funds is unduly small; (iv) recommend improvements in administrative procedures and policies designed to effectuate the proper coordination of the Old-Age, Survivors, and Disability Insurance program and the Federal-State unemployment compensation program