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Social Security.(LETTERS TO THE EDITOR)(Letter to the Editor)

The New American

| April 18, 2005 | Collorafi, Peter S. | COPYRIGHT 2005 American Opinion Publishing, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Regarding Thomas R. Eddlem's February 21 article "Weighing Benefits," even if we ignore the success of other countries that have privatized this remnant of paternalist government, we need look no further than the Texas coast for an example of successful Social Security privatization--and the best kept secret of the entire country.

In the late 1970s it was becoming clear that Social Security was in financial trouble and that Congress was not dealing with it. What was less known was that local governments had an option to withdraw from Social Security and set up their own retirement programs. Galveston County developed an alternative plan that would cover all county employees. The plan included a life insurance element for employees that would protect families of deceased employees, and a retirement element with annuities purchased from major life insurance ...

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Source: HighBeam Research, Social Security.(LETTERS TO THE EDITOR)(Letter to the Editor)

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