Flopper
Diamond Member
"Both the G.A.O. and Social Security studies concluded that lower-wage workers, particularly those with many dependents, would fare better under Social Security, while middle- and higher-wage workers were likely to fare better, at least initially, under the Alternate Plan."Yup and I remember reading about a country in South America that did the same thing.
They gave their citizens the optioin of staying with their SS or opting to privatize thier contributions.
Those that privatized are making way more each month than those that stayed with that countries SS program.
Wish I could remember which country it was.
Chile.
Thanks. I saw the story quite a while ago and couldn't remember which country it was.
http://www.nytimes.com/2011/09/18/u...y-works-in-galveston.html?_r=1&pagewanted=all
In the US, workers have the safety net, Social Security and if they so choose, an alternate plan, 401K or IRA. It's really not a bad system.