"I hope as many Iowans as possible will participate in this event next weekend, especially those who are under 35. It's important to start thinking about retirement as early as possible and how Social Security will fit in," said Grassley, who will help lead the discussion in Des Moines.
The public forum is called "Making Sense of Social Security." It is scheduled to begin at 9:00 a.m., on Saturday, May 9, at the Polk County Convention Center. The discussion is sponsored by an organization called Americans Discuss Social Security (ADSS) and funded with a grant from the Pew Charitable Trusts. Grassley is an honorary co-chairman of ADSS, with Sen. Pat Moynihan of New York. The forum is free and open to the public. To register call toll-free 888-560-2377.
The May 9th citizen forum will be the fourth such meeting conducted since President Clinton began the series in Kansas City in April. Meetings have been held in Austin and Buffalo. A forum is also scheduled for Seattle. Grassley said the responses gathered at each of these meetings will be presented to Congress before it enacts Social Security reform next year.
"The forum will be an excellent opportunity to get a better understanding of the reform options on the table, to consider additional possibilities and to put your individual point of view on the public record. Iowans have a lot to contribute to this discussion, and I encourage people to add their voices to the national debate," Grassley said.
In the Senate, Grassley is chairman of the Special Committee on Aging. He has conducted three hearings during the last year to study the long-term financial viability of Social Security. The most recent hearing was in April. A panel of experts concluded that the stock market is a viable option for putting more money into Social Security, but it would not be enough to save the program from financial problems. Grassley announced that he would form a study group to examine whetherindividual investment accounts could be included in Social Security at a reasonable cost.
"A healthy debate over Social Security has started. And as the national conversation continues, I'm confident that a solution will emerge so that we can save the program for future generations," Grassley said.
Earlier this week, trustees for the Social Security program released their annual report and predicted three extra years of full benefits for retiring baby boomers before a potential cash shortfall in 2032. "This news should not lull us into complacency. The fact is, Social Security will still go broke if we don't take action. And the sooner we act to reform the program, the less dramatic the changes will be for all those who rely on this important program," Grassley said.