A Warning for Women About Social Security
Washington Post (08/01/00) Vol. 22, No. 49 p.A21; Morin, Richard; Deane, Claudia

The head of a pilot program on Social Security says privatizing the long-term retirement plan is a bad idea, especially for women. Catherine Hill, chief of the Social Security Project, a special program sponsored by the Institute for Women's Policy Research (IWPR), believes the reform proposal submitted by George W. Bush is so comprehensive it would leave an indelible mark on modern Social Security policy if passed. Of all Social Security recipients, IWPR asserts that women would be affected the most by the changes. Under the Bush proposal, younger workers would be permitted to consign a portion of their payroll taxes to individual private accounts. The problem with the plan, says IWPR, is that women have a longer life span than men and generally earn less. Therefore, women are less likely to accumulate as much savings under Bush's plan than they would under the system's current progressive structure, according to Hill.


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