Investing in the Private Market: Hearing Before the Subcommittee on Social Security of the Committee on Ways and Means, House of Representatives, One Hundred Sixth Congress, First Session, March 3, 1999, Volume 4 |
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Page 2
... President's proposal to invest in the private market as a solution to Social Security's problem is a break- through . While the White House and I may differ on who should own and control these investments , we need to carefully consider ...
... President's proposal to invest in the private market as a solution to Social Security's problem is a break- through . While the White House and I may differ on who should own and control these investments , we need to carefully consider ...
Page 7
... President's approach to use the oppor- tunity to meet the challenge by contributing the surplus to the So- cial Security Investment Funds and modernizing the way in which the Social Security Trust Fund is invested . This proposal has ...
... President's approach to use the oppor- tunity to meet the challenge by contributing the surplus to the So- cial Security Investment Funds and modernizing the way in which the Social Security Trust Fund is invested . This proposal has ...
Page 9
... President Clinton's proposal to ensure the financial well - being of the Social Security and Medicare programs and improve the retirement security of all Americans . The advent of an era of surpluses rather than deficits has radically ...
... President Clinton's proposal to ensure the financial well - being of the Social Security and Medicare programs and improve the retirement security of all Americans . The advent of an era of surpluses rather than deficits has radically ...
Page 10
... President's plan . The President's framework devotes 62 percent of these projected budget surpluses to the Social Security system . Of the roughly $ 2.8 trillion in surpluses that will go to Social Security , about four - fifths will be ...
... President's plan . The President's framework devotes 62 percent of these projected budget surpluses to the Social Security system . Of the roughly $ 2.8 trillion in surpluses that will go to Social Security , about four - fifths will be ...
Page 11
... President's proposal to provide financial security to retirees . We believe that USA accounts will provide a significant stimulus to pri- vate savings , by enabling millions of Americans to begin to set aside some money for retirement ...
... President's proposal to provide financial security to retirees . We believe that USA accounts will provide a significant stimulus to pri- vate savings , by enabling millions of Americans to begin to set aside some money for retirement ...
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Americans assets assumptions average billion bonds centralized investment Chairman SHAW cial Colt Committee companies CONGRES CONGRESS THE LIBRARY deficit defined benefit DOGGETT economic employees equities federal government FICA taxes fiscal future going Goldberg government investment guaranteed higher index funds individual accounts individual retirement accounts individual savings accounts investors LIBRARY OF CONGRESS managers MATSUI Medicare ment MUELLER options past earnings pay-as-you-go payroll tax pension funds pension plans percent percentage points personal accounts political portfolio President president's framework President's proposal private accounts projected rate of return reduce Reischauer reserves retirement age retirement benefits revenues risk rity Secu Security and Medicare Security Trust Fund Social Security Administration Social Security benefits Social Security program Social Security reform Social Security system Social Security trust Social Security's SSASIM stock market SUMMERS TANNER Thank Thrift Savings Plan tion transition tax Treasury securities trillion trust fund investment workers
Popular passages
Page 1 - Rayburn House Office Building, Hon. E. Clay Shaw, Jr. (Chairman of the Subcommittee), presiding. [The...
Page 3 - FORMATTING REQUIREMENTS: Each statement presented for printing to the Committee by a witness, any written statement or exhibit submitted for the printed record or any written comments in response to a request for written comments must conform to the guidelines listed below. Any statement or exhibit not in compliance with these guidelines will...
Page 3 - TTD/TTY in advance of the event (four business days notice is requested). Questions with regard to special accommodation needs in general (including availability of Committee materials in alternative formats) may oe directed to the Committee as noted above.
Page 3 - Committee will rely on electronic submissions for printing the officiai hearing record. 2. Copies of whole documents submitted as exhibit material will not be accepted for printing. Instead, exhibit material should be referenced and quoted or paraphrased. All exhibit material not meeting these specifications will be maintained in the Committee files for review...
Page 3 - ... or exhibit not in compliance with these guidelines will not be printed, but will be maintained in the Committee files for review and use by the Committee. 1. All statements and any accompanying exhibits for printing must be submitted on an IBM compatible 3.5-inch diskette in WordPerfect or MS Word format, typed in single space and may not exceed a total of 10 pages including attachments. Witnesses are advised that the Committee will rely on electronic submissions for printing the official hearing...
Page 54 - Such a system would triply insulate fund management from political control by elected officials. Long-term appointments and security of tenure would protect the SSRB from political interference. Limitation of investments to passively managed funds and pooling with private accounts would prevent the SSRB from exercising power by selecting shares. The diffusion...
Page 111 - Even with Herculean efforts, I doubt if it would be feasible to insulate, over the long run, the trust funds from political pressure — direct and indirect — to allocate capital to less than its most productive use.
Page 52 - ... billion, would have been about $23 billion, more than two and one-half times the amount that is transferred to the trust fund from income taxes on benefits.2 While general revenue transfers to social insurance plans are commonplace around the world, they have been controversial in the United States.3 Some would oppose such a transfer, arguing that general revenue financing would weaken the program's social insurance rationale through which payroll tax contributions entitle workers to benefits....