One of the most humane policy of the United States is the Social Security. It encompasses several social welfare and/or social insurance programs like:
Federal Old Age, Survivors and Disability Insurance
Unemployment Insurance.
Temporary assistance to needy families.
Health insurance for aged and disabled (Medicare Program)
Grants to States for Medical Assistance Programs (Medicaid Programs)
State Children's Health Insurance Program (SCHIP)
Supplemental Security Income (SSI)
Social security is a social insurance program funded through payroll taxes called Federal Insurance Contributions Act (FICA).
Texas Democrats believe we must keep the promise of Social Security strong and certain for those who have worked and contributed to the system most of their lives. Social Security should continue to be the foundation of income security for working Americans. We believe all Americans should have access to the Social Security system, including public employees. Private savings accounts and other pension programs should be additions to the guaranteed Social Security benefit, not a substitute for any portion of it.
Texas Democrats oppose Republicans' plans to privatize Social Security Program as well as plans to invest those monies in the stock market.
Protecting Retirement Benefits
Millions of workers have invested in public or private pensions to secure their retirement income. Texas Democrats support measures to provide strong and effective legal protections to secure the investments of workers in public or private pensions to honor the principle that a lifetime of honest work should be rewarded with adequate retirement income. Some of these measures are :
- Provide legal protection for the full amount invested by a participant in a pension or retirement program, if such accounts or corporate pensions lose their funding or are dismantled due to financial improprieties, insolvency or reorganization
- Automatically Freeze assets of pension fund companies filing for bankruptcy or encountering legal problems
- Set time limits to allow the expedient transfer of pensioners' funds to a new account or directly to the pensioner within the confines of IRS tax regulations
- Improve corporate governance to enhance confidence of all stakeholders in the private enterprise system
Texas Democrats are fighting hard on the floor of the house to push these measures to protect your social security payments and retirement benefits.
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Source: www.isnare.com
