The American Association of University Women opposes a system of individual retirement accounts as a replacement for current Social Security benefits. It does support individual retirement accounts in addition to but separate from Social Security. The current Social Security system contains many benefits that should be maintained: full cost of living adjustments, progressive benefit formulae, spousal and widow benefits, and disability and survivor benefits.

If individual retirement accounts replaced the current Social Security system, women's lower earnings would translate into smaller contributions into retirement accounts. Women usually spend less time in the workforce because of child rearing obligations, which would further lower their contributions. This would translate into even lower retirement benefits for women.

In this year's election Social Security is an extremely important issue for women. Ladies, consider carefully when you go to the polls to vote.

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