Social Security is one of America’s great successes. The program provides a foundation of economic security for more than 47 million Americans and their families. Because of Social Security’s built-in protections, we have come close to eliminating poverty among seniors.…
Social Security remains a successful and solidly financed social insurance program for working and retired families. While efforts continue to undermine Social Security by questioning the solvency of the program: The 2002 Trustees Report confirms that Social Security is fiscally…
Twenty thousand Enron employees lost approximately $1 billion in pension assets during the company’s recent collapse. Factors contributing to large employee losses included: Lack of diversification – Employees had 63 percent of their 401(k) assets invested in Enron stock. Restrictive…
A proposal to provide all workers the ability to save for retirement, Washington Voluntary Accounts, is popular with Washington state residents and business owners, according to polling and focus groups conducted during the winter of 2001-2002. WVAs would be a…
As the baby boomers reach retirement age and life spans lengthen, the issue of retirement security is gaining increasing prominence. Social Security has been the subject of innumerable talk show segments, political debates, and newspaper editorials. Corporate scandals involving previously…
Jennifer Dunn and Dorcas Hardy got one thing right in their opinion piece on Social Security (SeattlePI.com, Opinion, April 17, 2002). The system could be improved to work even better for American women. However, the radical restructuring that Dunn and…
While Washington residents initially support restructuring Social Security to a system of private accounts, they change their opinion when they learn about the loss of guaranteed benefits and the costs of transition. 57% favor maintaining the current Social Security system.…
The focus groups: EOI contracted with Evans-McDonough to conduct two focus groups on Washington Voluntary Accounts, EOI’s proposal for universal pension access for Washington workers. Participants in both groups were small business owners and managers in King County, one group…
In May 2001, President Bush appointed a commission charged with submitting a Social Security reform plan including individual investment accounts. During his election campaign, Bush’s advisors described a possible reform package that would encourage diversion of 2% of the 12.4%…
Since 1935 Social Security has been the foundation of economic security for America’s working families. With its progressive benefit structure, survivors and disability programs, family benefits, annual cost of living adjustments, and guarantee of retirement benefits for life, Social Security…
