I feel that this is a very worthwhile Bill which provides workers to set aside additional monies for retirement with little knowledge or expertise. It allows for participants to reduce or increase their rate of savings as needed during their working careers. It allows teenagers to decide only whether to save or not to save; they do not need to decide whether they want traditional Social, Security or some other form of retirement.
This program also allows for a person who might have invested poorly in the Stock Market (remember ENRON) to still have a basic benefit coming in. If a worker chose to have his retirement based on private investments, and if he had to make this choice) at age fifteen or sixteen years, would he be suitably prepared to make this decision before he began to earn money? How extremely difficult would it be to fairly determine how benefits would be distributed if a worker worked part of his career investing in the Market and part of his career paying into the traditional Social Security System?
I recommend that this bill be enacted largely as written. Congress may want to adjust the numbers in this bill, but I consider that they are prudent and reasonable. My guesstimate is that these numbers will favor the Treasury for at least 50 (fifty) years. One consideration I ask is that Congress decide this legislation without any encumbrance of extraneous pork or other considerations.