Bush Social Security Plan Outlined at BC Conference

Bush Social Security Plan Outlined at BC Conference

Lawrence B. Lindsey, director of President Bush's National Economic Council, outlined the administration's plans for Social Security reform at the third annual conference of the Retirement Research Consortium, co-hosted in Washington, DC, May 17 and 18 by Boston College's Center for Retirement Research.

Lindsey said the Bush strategy calls for the creation of individually controlled, voluntary personal retirement accounts that will augment existing Social Security benefits, in lieu of increased taxes or a reduction in benefits.

The conference, held a t the National Press Club and co-sponsored by the University of Michigan Retirement Research Center, was attended by more than 300 researchers from government, academia and the private sector.

The list of participants, headed by Lindsey and Acting Social Security Administration Commissioner Larry G. Massanari, helped produce the record attendance at the annual event and made the conference "a huge success," according to the center's director, Drucker Professor of Management Sciences Alicia Munnell.

"Our ability to assemble such a sterling cast of research experts is the reason why this event just keeps getting bigger and better . "

Conference topics included whether individuals are saving enough for retirement, the determinants of participation in 401(k) pension plans and the potential economic effects of reforming social security.

Other Boston College conference participants included Prof. Peter Gottschalk (Economics), Prof. John Williamson (Sociology) and CRR Associate Director for Research Annika Sunden.

- Reid Oslin

 

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