Account for unpaid caregivers; reform benefit formula
In light of weakened retirement security for unpaid caregivers and caregivers for family members, who sacrifice not only wages but Social Security benefits when they swap paid labor for unpaid care work,
Democrats support Social Security reform which better accounts for the challenges facing unpaid caregivers--including incremental reforms to the benefit formula to mitigate the penalty for unpaid care.
Source: Democratic Party Platform adopted at 2020 Convention
, Jul 27, 2020
Preserve promise of Social Security; don't privatize
We believe every American deserves a secure, healthy, and dignified retirement. During their working years, Americans contribute to Social Security in exchange for a promise that they will receive an income in retirement. Unlike those in the other party,
we will find a solution to protect Social Security for future generations. We will block Republican efforts to subject Americans' guaranteed retirement income to the whims of the stock market through privatization. We reject approaches that insist that
cutting benefits is the only answer. President Obama will also make it easier for Americans to save on their own for retirement and prepare for unforeseen expenses by participating in retirement accounts at work.
Democrats believe that Social Security
and Medicare must be kept strong for seniors, people with disabilities, and future generations. Our opponents have shown a shocking willingness to gut these programs to pay for tax cuts for the wealthiest, and we fundamentally reject that approach.
Protecting the promise of Social Security is absolute
We will ensure that a retirement with dignity is the right and expectation of every single American, starting with pension reform, expanding saving incentives and preventing the privatization of social security.
Democrats believe that after a life of hard work, you earn a secure retirement. Our commitment to protecting the promise of Social Security is absolute.
Democrats also recognize that Americans rely on more than just Social Security for a secure and dignified retirement. Democrats will continue to fight for genuine pension reform that protects employees’ financial security from future
Enron-style abuse. We also want to work on new ways to help hard-working Americans create retirement savings.
Source: 2006 Democratic Party Congressional Promise
, Nov 1, 2006
Bar practice of keeping retirement funds in company stock
We must protect the retirement security of America’s workers and their families. Workers should never lose all their savings because their employer locked those savings into the company’s own stock.
We will bar that practice. We need to require honest information and full disclosure, and protect older workers from unfair treatment when their benefits are converted to cash balance plans.
Source: The Democratic Platform for America, p.23
, Jul 10, 2004
Oppose privatization and oppose raising retirement age
We are absolutely committed to preserving Social Security. It is a compact across the generations that has helped tens of millions of Americans live their retirement years in dignity instead of poverty. Democrats believe in the progressive, guaranteed
benefit that has ensured that seniors and people with disabilities receive a benefit not subject to the whims of the market or the economy. We oppose privatizing Social Security or raising the retirement age.
We oppose reducing the benefits earned by workers just because they have also earned a benefit from certain public retirement plans. We will repeal discriminatory laws that penalize some retired workers and their families while allowing others to receive
full benefits. Because the massive deficits under the Bush Administration have raided hundreds of billions of dollars from Social Security, the most important step we can take to strengthen Social Security is to restore fiscal responsibility.
Gore is committed to making Social Security safe for more than half a century by using savings from our current prosperity to strengthen the Trust Fund in preparation for the retirement of the Baby Boom generation.
Gore has proposed Retirement Savings Plus - voluntary, tax-free, personally-controlled, privately-managed savings accounts with a government match that would help couples build a nest egg of up to $400,000.
Source: 2000 Democratic National Platform as adopted by the DNC
, Aug 15, 2000
Click here for definitions & background information for the Social Security.
Click here for VoteMatch responses for the Democratic Party.