Democrat Floats Retirement Reform Ideas
Congress should be taking a comprehensive approach to protecting future retirees, not simply talking about private Social Security accounts.[@@]
A Democratic congressman and former top Clinton aide made that case last week on the floor of the U.S. House of Representatives.
Automatic 401(k) enrollment and unifying 16 retirement savings plans into 1 are 2 of the ideas that Rep. Rahm Emanuel offered as possible bases for discussion for members of both parties.
Emanuel, who served as a top aide to former President Bill Clinton and today represents a Chicago district in the House, said the first order of business is to take privatization off the table.
President Bush has made enactment of Social Security reforms that include private, worker-controlled accounts a top priority for his second term. Democrats have refused to consider that proposal.
Emanuel said the best way to get discussion back on track is to change the focus.