In other words, Social Security is every bit as insecure as the stock market.
Stock market risk is ok, but not for Social Security.
Everybody aspires to an affordable home, a secure job, better living standards, reliable healthcare and a decent pension. My generation took those things for granted, and so should future generations.
The U.K. is one of the few places in the world that has final salary pensions.
To stabilize the nation's public-employee pension systems and to prevent federal taxpayers from being billed for failed pension funds, I have introduced the Public Employee Pension Transparency Act in Congress.
The debate over Social Security should not be about how much we can cut from the program in order to balance the federal budget. The debate over Social Security should not be about raising the retirement age or limiting benefits. The debate over Social Security should be about retirement security.
I believe when hard-working citizens have earned their pension, it's wrong for Washington bureaucrats and politicians to take their pensions away.
Social Security has never failed to pay promised benefits, and Democrats will fight to make sure that Republicans do not turn a guaranteed benefit into a guaranteed gamble.
There are no plans in President-elect [Donald] Trump's policies moving forward to touch Medicare and Social Security.
Let me be clear, the discussions about Social Security are not about the retirement security of those Americans who are 55 or older - the Social Security system for those folks 55 and over will not change in any way shape of form - no ifs, ands, or buts.
We're the party that has fought for Medicare. We're the party that has fought for Social Security. The Republicans have tried to privatize Social Security and voucherize Medicare.
We must ensure that today's seniors' benefits are rock solid and find a solution that fixes Social Security for the next generation that is just entering the workforce.
Democrats have always historically referred to our families as working families, and I have sort of changed that moniker. I think what we have is a nation of worried families - families that are concerned about job security, families who thought their pensions were secure and now have questions.
I am staunchly committed to ensuring the long-term solvency of Social Security and preserving full benefits for Americans who have spent their entire working lives contributing to this program.
If I know I'm going to be in a little different system, I'm 39, I can plan for that; we can plan for that. Doing nothing, the status quo, is going to guarantee cuts for current seniors... reforming the system is the only way you shore it up.
I'm dubious about having Social Security put into the stock market. I think that we have gotten very far away from the idea that there's something sacrosanct about retirement investments.
However, the Administration's plan to privatize Social Security will undermine retirement security for all Americans by cutting guaranteed benefits by more than 40 percent, and risky private accounts won't make up for the loss of benefits for millions of Americans.
If you can't trust your boss - or your pension company - to take care of your investment, who can you trust? The vast majority of company chiefs take their responsibilities seriously and protect their workers' final salary pensions. But for too long, the reckless few playing fast and loose with people's futures have got away scot-free.
Taxpayers should demand that their states honestly assess public pension plans, accurately measure the assets and liabilities, and take steps to provide fair benefits to public employees that limit taxpayers' liability.
Under Reagan came the idea of putting your pension plan in the stock market, which wasn't a guaranteed pension.
I want to be able to look my daughter's teacher in the eye and say, 'Your pension will be there.' I need to know that her pension will match up with a promise we can keep.
I want to talk about jobs and health care and pension security and what we're going to do to stop the brain drain in Ohio and make it possible for our young people to stay here and build a life in Ohio rather than in Pennsylvania or West Virginia or God knows where.
The former pension minister, the Liberal Democrat Steve Webb said I was trying to abolish the lump sum. Instead, we are going to keep the lump sum and abolish the Liberal Democrats.
Under the current pay-as-you-go Social Security system, not one person is actually guaranteed benefits.
Social Security is a solemn promise to kupuna like my 88-year-old mother that they can rely on the retirement they've earned. While I'm glad to see our seniors receive an increase for the second year in a row, I wish the cost-of-living adjustment could be larger. However, every little bit helps make a difference in these tough economic times.
