Replacing Social Security with private, individually owned retirement accounts is an idea that has rapidly gained popularity across the United States. Virtually all Social Security privatization proposals have focused on the national level. Cascade Policy Institute, however, leads the debate on how the states can "opt out" of the federal system, empower workers, and allow individuals the opportunity to provide a better retirement for themselves while Congress is stalled.
In 1996 Cascade hosted an event with Jose Pinera, Ph.D.(see the RealMedia video), who is considered the architect of Chile's privatized retirement system. Following Pinera's visit, Cascade board member and senior advisor Paul R. Farago proposed a unique idea: why not seek a federal waiver that would allow Oregon and other states the opportunity to opt out of the national Social Security system and create their own retirement plans.
Oregon has been a leader in changing the way federal programs operate in the states. We secured federal waivers to alter our use of Medicaid funds for the Oregon Health Plan, and we obtained waivers to expand our innovative JOBS Plus program, putting welfare recipients to work. If America seriously considers privatizing Social Security, Oregonians could lead the way.
In May 1997 the Oregon Legislature approved a resolution asking Congress for such an opt out waiver. The idea of states as laboratories of retirement programs has since gained momentum. The American Legislative Exchange Council, the nation's largest bipartisan individual membership association of state legislators, has adopted Oregon's Social Security Waiver Resolution as Model Legislation, and a similar resolution passed the Colorado legislature in 1998.
If Congress honors the states' opt out requests you can look to Cascade Policy Institute for expert advice in designing the right retirement system for Oregon.
In 1996 Cascade hosted an event with Jose Pinera, Ph.D.(see the RealMedia video), who is considered the architect of Chile's privatized retirement system. Following Pinera's visit, Cascade board member and senior advisor Paul R. Farago proposed a unique idea: why not seek a federal waiver that would allow Oregon and other states the opportunity to opt out of the national Social Security system and create their own retirement plans.
Oregon has been a leader in changing the way federal programs operate in the states. We secured federal waivers to alter our use of Medicaid funds for the Oregon Health Plan, and we obtained waivers to expand our innovative JOBS Plus program, putting welfare recipients to work. If America seriously considers privatizing Social Security, Oregonians could lead the way.
In May 1997 the Oregon Legislature approved a resolution asking Congress for such an opt out waiver. The idea of states as laboratories of retirement programs has since gained momentum. The American Legislative Exchange Council, the nation's largest bipartisan individual membership association of state legislators, has adopted Oregon's Social Security Waiver Resolution as Model Legislation, and a similar resolution passed the Colorado legislature in 1998.
If Congress honors the states' opt out requests you can look to Cascade Policy Institute for expert advice in designing the right retirement system for Oregon.
