Gingrich pitches Social Security alternative to younger workers - WAOW - Newsline 9, Wausau News, Weather, Sports

Gingrich pitches Social Security alternative to younger workers


MANCHESTER, N.H. (AP) -- Republican presidential contender Newt Gingrich is pitching a "growth and opportunity" alternative to Social Security for younger workers.

Gingrich, a former House speaker, planned to tell students at St. Anselm College on Monday that he would allow some members of the workforce to choose private retirement accounts and end the expectations that Social Security will be a safety net for older workers.

Gingrich says his plan would reduce the inequality between workers who paid into Social Security as their sole retirement account and higher-income workers who benefited from private funds. Gingrich aides said their plan would make retirees' more secure and level the field among all workers.

However, Gingrich's plan would allow seniors in Medicare now to remain there. Others would be eligible for subsidies toward traditional insurance plans.

(Copyright 2011 by The Associated Press. All Rights Reserved.)

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