Thursday, March 24, 2005


Soc Sec Admin doesn't like Private Acct

From the Social Security Admin's own website:

Why can't I invest my Social Security taxes into an IRA plan?

Question: I think I could do better if you let me invest the Social Security I pay into an Individual Retirement Plan (IRA) or some other investment plan. What do you think?

Answer: Maybe you could, but then again, maybe your investments wouldn't work out. Remember these facts:

  • Your Social Security taxes pay for potential disability and survivors benefits as well as for retirement benefits;
  • Social Security incorporates social goals - such as giving more protection to families and to low income workers - that are not part of private pension plans; and
  • Social Security benefits are adjusted yearly for increases in the cost-of-living - a feature not present in many private plans.

(Caught via
You can select to receive an email when the page is updated.

Comments: Post a Comment

<< Home

This page is powered by Blogger. Isn't yours?