Rep. Michael McNulty, D-N.Y., has been selected to chair the House Ways and Means Social Security Security Subcommittee.

The panel generally must review all Social Security legislation before it is considered by the full Ways and Means Committee and the House of Representatives.

McNulty opposed President Bush's efforts in 2005 to allow the diversion of a portion of Social Security taxes into personal investment accounts. He does not have a track record on mandatory Social Security, which would cost New York $649 million over five years, according to The Segal Company.

The committee's 13 members include eight Democrats and five Republicans. Seven of the members represent states that have retirement systems in the Coalition to Preserve Retirement Security.