From: "Glenn Meadows" 

It's 4% of your income, I think the number is 7.x% of your income in
mandated to be deducted and sent to SS.  So you'll have an option, as I
understand it, to redirect up to about half of that to an alternate
account, that you control where it's invested.  NOT all of your SS
withholding can be sent to a private account, the balance will still go to
the existing system.

What will remain to be seen, would be what the effect on the existing
system that would have, and how a phased change to possibly a full personal
account might transition.

I'd rather be in control of part of MY MONEY, than none of it, that's for sure.

401k's that mandate investment ONLY in the company stock, does more to put
workers at risk though, because diversification is the key to stability.

--

Glenn M.
"Geo"  wrote in message
news:4221588f$1{at}w3.nls.net...
> 4% of what, the total you now pay to SS or 4% of your income?
>
> Ok so if its an option then how is it going to save SS? I don't get it,
> for
> all the people who opt to not do it then nothing has changed except SS has
> less incoming money. So what does it fix?
>
> Geo.
>
> "Glenn Meadows"  wrote in message
> news:4220e2fd$1{at}w3.nls.net...
>> I don't think there is ANY change to the total amount from salary or
>> matching from employer.  The only change proposed, is the OPTION to
>> divert
>> X% (mentioned at 4% so far) to an account where you control what things
>> it
>> can be invested it.  I'm sure, it will be like many 401k's, that are
>> administered by a fund company, and you can move among the funds, but
>> have
>> the same limits on when you can withdraw the funds.
>>
>> From what _I'VE_ read, this is an optional, NOT mandatory, and the
> existing
>> system will continue to run in parallel.
>>
>> I prefer the idea, even at 55, to send a portion of my own money (it's my
>> money they're taking), to an account that I can direct to an investment
> that
>> I'm aware of the risks, and an account that congress can't
"borrow" from.
>>
>> --
>>
>> Glenn M.
>
>

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