Calculate How Much You Will Lose Under Privatization

From Rep. Nancy Pelosi, House Democratic Leader

Vol. 2, No. 3--April 13, 2005

Many Americans are worried about retirement security, and whether the combination of Social Security, their 401(k) plan or pension, and their savings will be enough. And now, Republicans want to privatize Social Security, saying the program is no longer sustainable. This risky proposal threatens the only secure retirement income for millions of Americans.

Calculate How Much You Will Lose

How the Social Security Calculator Works

All numbers are annual benefits adjusted for inflation. Calculations are based on nonpartisan Congressional Budget Office (CBO) economic assumptions. The President has acknowledged that individual accounts would do nothing to restore long-term solvency and that further benefit cuts are necessary. Since he has not made a specific proposal, these estimates assume that benefits are "price indexed," a proposal made in Plan 2 of President Bush's Social Security Commission, which he has referred to as a "good blueprint" for reform. These estimates also show the effect of the private accounts outlined in the 2005 State of the Union supplementary materials issued by the White House.

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