From: Bill Lucy 

In article , gmeadow{at}comcast.net says...
> Talk to the people in Chile, where they 100% privatized the system, and it's
> now solvent for centuries, it's reported.


From the NYT, January 25, 2005:

Chileans find that pension privatization plan launched 25 years ago, which
Pres Bush has cited as model for his plans to overhaul Social Security, is
falling far short of what was originally advertised under authoritarian
government of Gen Augusto Pinochet; under program, millions of people have
been paying 10 percent of their salaries to private investment accounts
that they control; many lower-paid workers' contributions were not large
enough to ensure even minimum pension of
$140 a month; others--those working in underground economy, self-
employed or working only seasonally--remain outside system altogether; even
middle-class workers who contributed regularly are finding that their
private accounts--burdened with hidden fees that may have soaked up as much
as third of their original investment--are failing to deliver as much in
benefits as they would have received under old system; government continues
to direct billions of dollars to safety net for those whose pensions are
below minimum

--- BBBS/NT v4.01 Flag-5