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Proposal to let Americans invest part of Social Security taxes
Washington Senator Bob Kerrey proposes letting Americans invest 2 percent of the 6.2 percent Social Security payroll tax in personal plans, with funds directed to stocks bonds or mutual funds. The idea, supported by Investment Company Institute, aims to reduce the system’s funding gap while promising no reduction in future benefits.
MENTIONED IN THIS ARTICLE
Washington
Bob Kerrey
Kerrey
D-Neb
Fund Industry Trade Group
The
Investment Company Institute
Alan Simpson
R-Wyo
American Association of Retired Persons
America
Simpson-Kerrey
Matthew Fink
Institute
Bill Shiebler
Putnam Investments
Boston
Social Security Administration
Mitchell Kohls
Heartland Advisors
Milwaukee
Shiebler
Jay DeMartine
Strong Capital Management
Jon Teall
Lipper Analytical Services Inc
Teall