Graham proposes personal accounts to boost Social Security
The plan blends traditional Social Security with personal accounts for younger workers to build a nest egg. Graham argues accounts offer safe investment options and stronger poverty protections, while Bush weighs reform as a central second-term issue. The idea faces political risk despite support from advocacy groups and a White House commission.
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South Carolina
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Derrick Max
Alliance For Worker Retirement Security
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Graham Proposal Aims Personal Retirement Accounts
The Graham plan would shift 4 percent of payroll taxes into accounts up to 1300 a year while trimming traditional benefits. Government guarantees 120 percent of poverty in annual retirement income with up to 500 in matching funds for low income workers. Transition costs run about 3 trillion over 20 years and funding would come from budget waste.
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