Synod says no to privatization of Social Security

A resolution titled “Saving Social from Privatization” was overwhelmingly appoved by delegates, who indicated a desire to communicate to Congress that individual Social Security “set-asides” or private accounts were bad public policy.

Said one delegate, “While private investments are a sound way to prepare for retirement, someone’s core retirement income — income from Social Security — should not be at risk from the ups and downs of the stock and bond markets.”

As one delegate noted, Social Security is an “insurance program, not an investment program.”

As instructed, the UCC’s Justice and Witness Ministries will prepare background materials on the topic for use by local churches.