Loading chat...
AR HR1047
Resolution
Status
5/17/2013
Primary Sponsor
David Meeks
Click for details
AI Summary
-
House of Representatives urges Congress to amend the Social Security Act to authorize waivers allowing states to design and implement alternative retirement plans.
-
Cites concerns that Social Security tax revenues will be insufficient to pay current benefits as early as 2012 and trust funds may be completely exhausted by 2029.
-
Notes that investment returns on Social Security contributions are significantly below returns available from other sources.
-
States that alternative retirement investment options could increase Arkansas savings rates and retain young adults who otherwise would leave the state for employment elsewhere.
-
Directs the Chief Clerk of the House to mail a copy of the resolution to each member of the Arkansas Congressional Delegation.
Legislative Description
Urging Congress To Enact Legislation Amending The Social Security Act To Authorize The Issuance Of Waivers To States To Allow The Design And Implementation Of Alternative Retirement Plans.
Last Action
Died in House Committee at Sine Die adjournment.
5/17/2013