Word: diverted
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...this anthropomorphized Social Security (government programs cannot file for bankruptcy, nor become exhausted) to the idea that when America adjusts Social Security’s cash flow, part of Social Security should also be privatized. The plan’s publicized, if vaguely defined, line is that anyone could divert a small part of his Social Security taxes to a private account invested in “a conservative mix of bond and stock funds.” Commentators say the plan is logically analogous to the government offering to loan you money against your future Social Security payments...
Under the current system, workers generally contribute 6.2% of their wages to the Social Security system. Under Bush's plan, you would eventually be able to divert as much as 4% into a personal investment account that could be invested among a limited number of government-selected funds. The account could not be spent or borrowed against until retirement. At retirement, you would still get a traditional Social Security check, but it would be smaller, reflecting your diminished contribution to the system. You would also be required to commit a portion of your personal account to an annuity-to trade...
...Bush Administration has not yet offered details of its plan for Social Security, but it's expected to follow the contours of a proposal spelled out by a 2001 commission on Social Security: a combination of scaled-back guaranteed benefits and private investment accounts. This controversial proposal would divert a portion of your payroll taxes to a private account, to invest as you choose. Participation would be voluntary, and there would be a ceiling on how much you could put in. You would not be able to draw on the money until retirement, when it would be paid...
Employees may electronically divert a portion of their paycheck through the University’s existing mechanism for charitable donations, and students may streamline donations online to the American Red Cross of Massachusetts Bay. Both groups may also send checks by mail at an address posted on the University’s website...
After supporting President Bush's controversial prescription-drug plan, the AARP is lining up on the opposite side of his latest ambitious legislative proposal: to revamp Social Security by allowing workers to divert a portion of their payroll taxes into private investment accounts. The mighty advocacy group for older Americans will launch a $5 million newspaper-ad campaign this week arguing that the plan is too risky...