Panel Announces Results of Social Security Study

Yesterday, a 13-member Federal panel announced the results of its 2-year-long study into Social Security system. Although the panel was split, the majority of members favored what is being called a "privatization" option — that is, moving Social Security away from a Federal-run system that guarantees monthly payments to retirees to a new system, one characterized by individual accounts with Wall Street brokerage houses and mutual fund companies. Trade unions yesterday pledged an all-out fight against the privatization of the social security system.


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