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Author: Quakeboy02 Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75383  
Subject: Re: Enron and Social Security Date: 1/26/2005 3:01 PM
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Just a little tidbit for those who think the privatization plans will help them. You pay it in, and the government takes it back. Pretty much like the current system, except that if you make bad investment decisions, your pension is hit. BUT, there's going to be NOTHING that you can pass on to your heirs.

"Some proposals take a bigger and more direct bite. Under a proposal by Rep. Clay Shaw, R-Fla., 95% of the accumulated balance in each worker's private account would be transferred at retirement to the Social Security Trust Fund, where it would fund traditional benefits. The retiree would keep only 5% of his account."

Hedge
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