Originally posted by Ripsnort
Needs to be privatized. Republican idea, democrats hate the idea (Dems on the hill that is..)
Lol, yeah, let Enron run it, no thank you.
What we have as government workers is FERS(federal employee retirement system). This is kind of like a 401k, but a little different. It matches you up to 5%(you can put away up to 10%) of your paycheck dollar for dollar towards retirement.(I think there is a maximum) Reagan enacted this when he did away with the old civil service retirement. I think this would be a good substitute for S.S. The government would match you dollar for dollar up to 5%, it would basically allow the public into FERS. And just like FERS, if you don't want to get involved, you don't have to. There are different ways to invest, no risk(bonds), low risk, and high risk, although, I wouldn't call it high risk, it's the "C" fund that keeps the money in the S&P index of stocks.
It would give people incentive to save.It also keeps the money from being used for other things that S.S. gets used for that it shouldn't be. It would also be protected by the government, so you would be insured up to 100k, like a bank account. After seeing the likes of enron(and others) raid pension funds, i'm not going to trust it to a private corporation, i'm sorry.
