We are still waiting for the president to introduce a concrete plan. He has just hinted at what he is thinking about doing, but no one has seen a proposal. ↗
Because of their low earnings and family obligations, Latinas would not be putting much money into private investment accounts. An average Latina could wind up losing thousands of dollars under this proposal. ↗
Because Social Security is specifically designed to boost the retirement income of low earners with a progressive benefit formula, the program has played an enormous and necessary role in keeping Latinas out of poverty. ↗
For people who have for been putting their hard-earned money into the system for years, the president's idea would replace their safety net with a risky gamble with no assurance of a stable return of investment. ↗
Latinas' life expectancies are relatively long. When a current retiree hits 65 and begins receiving her benefit check, she can expect to live another 22 years. That life expectancy is higher than white women or men. ↗