Private accounts would not assure retirees minimum benefits. Currently, social security recipients are guaranteed minimum benefits despite their earnings level. Opponents of privatization instead propose investing a portion of Social Security funds into the stock market and allocating the federal budget surpluses to the Social Security trust fund. Analysts argue that this would extend the solvency of the system to 2055. Most Social Security recipients are women.
Most women rely on social security as a major source of retirement income.
Social Security reform will affect women and lower wage earners the most. Women have longer life expectancies than men. Currently, the average life span for men is 79 and 85 for women. Longer life spans mean more years relying on social security retirement income. Further, women have different labor force participation patterns than men.