From: "Glenn Meadows" 

Heck, I'd be happy if I could just take 1/3 of my portion, and place it
into an investment under my control.  As it is now, the money going in
barely keeps up with inflation based on the time you withdraw it.  I heard
a discussion with the Treasury Secretary this AM on the radio, and at the
time SS was started, the pay/receive ratio was about 16:1.  Now, it's down
to 3:1, and getting worse all the time.  There is no way that the existing
system can work, or continue to work.  The real key, IMO, is to allow a
gradual migration of a portion of the funds into user controlled
investments.  I don't mean, put the 15% BACK into the paychecks, just
require or allow the employee to direct where a percentage goes.

For example, Shelley has a mandatory 401K plan at Vanderbilt, starting at
2%, which Vandy matches.  Required, you have no choice.  The investment
funds you can pick are quite lucrative, and have 10 year track records of
well over 12.7% combined.  Some are much higher, some are much more
conservative. BUT she gets to pick and choose how much of hers and the
matching contribution go into which funds.  Vandy will match all the way up
to 5%.  This ie pre-tax income, plus she of course still has the FICA
deduction going on.  Many companies don't want to take on the
responsibility of establishing a company pension plan, so I don't have that
option here. I'm going to be 56 this April, and would hope that IF a change
that allows a PORTION of my normal FICA contributions to be re-directed to
an external investment.  It will give me the ability to make it grow (or
shrink, and that's the risk factor that creates the upside potential) on my
own.  There will have to be restrictions on taking it out, and such, but I
think it would be a good thing.

--
Glenn M.


"Geo"  wrote in message
news:41c0d281$1{at}w3.nls.net...
> "Mark"  wrote in message
news:41be0958$1{at}w3.nls.net...
>
> > need them 50 years hence. Saving the 15% would be easier if the
government
> > wasn't taking 15% as well.
>
> Would it be easier if the government weren't forcing your company to pay
> half of that 15%?
>
> Geo.
>
>

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