Should workers be required to save a portion of their payroll contributions in individually owned retirement accounts?
Mike McGavick: McGavick says benefits must be guaranteed for current beneficiaries and those nearing retirement. He does not support privatization or a phasing-out of Social Security. But confidence in the system is broken. He would give younger workers the option of placing their benefits in voluntary personal accounts controlled by the federal government. This would help restore confidence in the system and ensure its solvency. Maria Cantwell: Cantwell opposes privatizing Social Security. She supports encouraging people to supplement their savings on their own by investing in additional individual savings accounts. She believes it is too risky to require an individual’s Social Security account to be in an unguaranteed private account managed by Wall Street.
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