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Galveston Plan

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Galveston Plan

Galveston Plan

Galveston Plan

  • Download
  • <iframe src="https://www.npr.org/player/embed/1147137/147137" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">

County workers in Galveston, Texas, opted out of Social Security 20 years ago, in favor of personal retirement accounts. These accounts are conservatively managed, but workers in Galveston are retiring with approximately twice the money they would have received under Social Security. Commentator Merrill Matthews explains how it works, and suggests it offers a model for Social Security reform.

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