Jack Conway on Social Security
Sue banks to recover Great Recession public pension losses
One of Kentucky's public pension systems lost $69 million because it unknowingly purchased risky mortgage-backed securities in the run up to the 2008 housing market crash.
But now, the system got $23 million of those losses back in an unprecedented settlement with Bank of America and its related companies.
Democratic Attorney General Jack Conway announced the settlement along with the federal Department of Justice and attorneys general from five other states.
The $23 million settlement covers $21 million in losses the retirement system suffered specifically from securities purchased from Bank of America and its subsidiaries Countrywide and Merrill Lynch.
Source: Associated Press on 2015 Kentucky gubernatorial race
, Aug 22, 2014
Pledges to not scale back program nor raise retirement age
Conway is the public face of a new push led by the Progressive Change Campaign Committee that is targeting GOP candidates who support privatizing or cutting Social Security. "Rand Paul, the Tea Party leader running against me for Senate in Kentucky,
thinks Social Security is unconstitutional," Conway says in a letter to supporters of the progressive group. Joining Conway are some 200 other Democratic House and Senate candidates who have signed on to a pledge rejecting any effort to privatize or scal
back Social Security benefits or raise the retirement age.
In an interview with ABC News, Conway said that Social Security represented an "area of stark contrast in the race." During the course of the campaign, Paul has suggested raising the retirement
age and Conway has alleged his opponent believes Social Security is unconstitutional.
It's a claim that Paul denied as recently as Sunday night: "I've never challenged it and I do not challenge the constitutionality of it," Paul said at a debate.
Source: ABC News coverage of 2010 Kentucky Senate debate
, Oct 18, 2010
Oppose any effort to privatize
Jack will oppose any effort to privatize Social Security. He believes Social Security has to be maintained as a public program that provides guaranteed retirement benefits. He thinks those benefits should be maintained and protected from any outside risk
associated with the financial markets. When the stock market fell in 2008, millions of Americans lost billions in retirement savings. Fortunately Social Security funds were not invested in the stock market, or else they would have been destroyed as well.
Source: 2010 Senate campaign website jackconway.org, "On The Issues"
, Aug 31, 2010
Opposes private retirement accounts.
Conway opposes the CC survey question on private retirement accounts
The Christian Coalition voter guide [is] one of the most powerful tools Christians have ever had to impact our society during elections. This simple tool has helped educate tens of millions of citizens across this nation as to where candidates for public office stand on key faith and family issues.
The CC survey summarizes candidate stances on the following topic: "Allowing individuals to invest a portion of their Social Security tax in private retirement accounts"
Source: Christian Coalition Survey 10-CC-q6 on Aug 11, 2010
Reject privatization; don't raise the retirement age.
Conway signed the Social Security Protectors Pledge
Some 200 Democratic House and Senate candidates have signed on to a pledge rejecting any effort to privatize or scale back Social Security benefits or raise the retirement age.
The Progressive Change Campaign Committee sponsored this pledge among Congressional candidates.
Source: PCCC Survey 10-PCCC on Aug 11, 2010
Page last updated: Apr 17, 2020