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Private account debate rages on  view story
Sunday, April 17, 2005
GERARD SHIELDS - - Baton Rouge Advocate
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The situation in 1981 was eerily similar.
Social Security faced a deficit and 2,000 workers in Galveston County, Texas, confronted a decision: stay with the broken system or form their own retirement plan. They hired an actuary, who spent nine months devising a private investment plan they adopted.
Today, many of those employees are retiring with a 6 percent return on their investment, as much as three times higher than if they stayed in Social Security.
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