American workers could accumulate wealth in the thousands (in some cases, hundreds of thousands) of dollars through a Social Security reform that includes personal retirement accounts. This increased wealth would be in addition to a maintenance level of Social Security benefits and could help millions of parents, their children, and their grandchildren to attain greater economic security and independence through their own personalized retirement assets.
A reformed Social Security with personal retirement accounts can domuch more than reducing the program's coming fiscal problems. Itwould also allow workers to build family nest eggs; give workersgreater asset control; strengthen communities' economic base; yielda higher rate of return; and allow workers benefit ownership.