"Fink's proposal would allow for the creation of a new investment fund for Social Security to supplement the existing trust fund, investing in stocks and bonds instead of just Treasury securities."
"The fund would be seeded with $1.5 trillion from the U.S. Treasury and would then be invested in the market for a period of 75 years, paying back the Treasury while supplementing Social Security."
"Every dollar put into the stock market since 1989 has grown, suggesting that retirees could benefit from the growth of the U.S. stock market without changing their benefits."
Social Security's trust fund is projected to be depleted by 2032, risking automatic cuts to retirement benefits. Larry Fink proposes a new investment fund, based on a bipartisan idea from Senators Cassidy and Kaine, to supplement the existing trust fund. This fund would invest in stocks and bonds, seeded with $1.5 trillion from the U.S. Treasury. The Treasury would recover its investment over 75 years, while retirees would benefit from market growth without changes to their benefits.
Read at 24/7 Wall St.
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