Statement Of Sen. Alexander - Social Security

Posted on January 13, 2005

I believe we need to strengthen social security for future generations. I support voluntary personal accounts to give younger workers options to manage more of their own retirement savings. I will not support any proposal that reduces the guaranteed Social Security benefits on which our nation’s seniors depend. Seniors rely on their monthly Social Security check. Long-term projections warning that Social Security expenses will eventually exceed the program’s income have prompted Congress to discuss ways in which the system can be reformed so that it will continue to provide the benefits guaranteed to present beneficiaries while remaining strong enough to provide benefits to the next generation of retirees. As long as we do not undermine these guaranteed benefits, I’m open to considering pilot programs that allow workers to manage their own retirement funds, create individual security accounts, and fund individual retirement accounts that individuals control themselves.