1. Require cuts in guaranteed benefits to pay for private accounts;

2. Weaken the system by diverting money from the Social Security Trust Fund to pay for private accounts;

3. Increase the federal deficit to pay for private accounts; and

4. Increase the retirement age to pay for private accounts

Privatizing Social Security would slash guaranteed retirement benefits, increase  the federal deficit, open Social Security up to manipulation and make working families’ retirement problems worse, not better. 

Unionized workers, for the most part, receive benefits through DEFINED BENEFIT PLANS, including those who work under AFTRA and SAG collective bargaining agreements.  The plan to privatize Social Security would eliminate defined benefit plans and would allow only DEFINED CONTRIBUTION PLANS, such as 401(k) plans. 

Want to calculate how privatizing Social Security will impact your guaranteed benefits?  Click here.