ARLINGTON, VA — The Independent Women’s Forum commends the President’s Commission to Strengthen Social Security for its examination of portable personal retirement accounts as an integral part of Social Security reform.
“A retirement system that provides a safety net, but also allows individuals to create wealth with a personal investment account will foster independence and security for women” stated Kimberly Schuld, IWF’s director of external relations. “The American economy has changed dramatically from the time when the Social Security system was first created. We have an opportunity to update this archaic entitlement program with an option that starts women on the road to building their own retirement wealth.”
Many feminist organizations oppose reforming the Social Security system. Their claims run the gamut from “there is no crisis” to “women won’t invest their money wisely.” The IWF believes these arguments do a great disservice to women.
“It is offensive to assert that women would not be able to wisely manage a personal retirement account,” continued Schuld. “The same feminists who claim that women are equal to men in all ways now declare that we’re incapable of making financial decisions and need Uncle Sam to take care of us.”
The Independent Women’s Forum has published an easy-to-read monograph on retirement security that explains the impact of private investment on women’s retirement.