What is ICI’s position on Social Security reform?
A. ICI applauds policymakers who are working to strengthen Social Security and to assure its permanent solvency and sustainability. The structural imbalance is growing every day—with the number of beneficiaries and the number of years they can expect to draw benefits going up, and the number of workers per retiree going down. Our country’s ability to remedy that imbalance is much greater the sooner we address it. The Institute has neither embraced nor rejected any specific Social Security reforms. Instead, we have focused on the private savings needed to supplement Social Security regardless of what action is taken to reform that vitally important public program or when. As FDR said long ago, Social Security is “…a cornerstone in a structure which is being built but is by no means complete.” ICI favors a range of measures that encourage Americans to save and invest in order to more fully build the retirement nest egg they want and will need.
