Missouri group slams social security plan
By Maria Hickey, KWMU
St. Louis, MO. – A new study finds the average Missourian would retire with about $170,000 less under President Bush's proposed social security plan.
The coalition, Missourians United to Protect Social Security, released the study Wednesday, the day before President Bush will be in St. Louis for a fundraiser.
Margarida Jorge is the state director of the coalition. She says even in the best case scenario Missouri workers would get $55,000 less in lifetime benefits with the proposed changes.
"That is to say, that under the president's proposal folks would end up with less money than if we did nothing at all to the system," Jorge said.
The study was done by Institute for America's Future, a national partner of the Missouri coalition group.
Jorge says the group is not opposed to any change in social security but wants private accounts taken off the table.