How Privatizing Social Security Would Impact Retirees

Retirees: the Impact of Social Security Privatization

Maryalene LaPonsie, U.S. News Privatizing Social Security could mean more investment options for workers. It could also mean the loss of guaranteed income in retirement.

How Privatizing Social Security Would Impact Retirees

The idea of privatizing Social Security is nothing new. Some 20 years ago, President George W. Bush proposed allowing younger workers to put a portion of their payroll taxes into personal retirement accounts. That plan didn’t gain traction, but some warn that a recent shake-up at the Social Security Administration — including a reduction in staffing — could be a precursor to an attempt to privatize the system. While there are no plans to do that…