Some Americans Already Have Privatized Social Security

Brief Analyses | Social Security

No. 215
Monday, November 04, 1996
by Merrill Matthews, Jr.

Most people realize that the Social Security Trust Funds are trust funds in name only and consist of nothing more than IOUs the government owes to itself. However, employees of three Texas counties that opted out of the Social Security program more than a decade ago are earning an average 6.5 percent interest, compounded daily, on their vested personal retirement accounts.

For complete article: ba215.pdf


Read Article as PDF