Fifty-one percent (51%) of American favor a proposal that would allow workers to invest their Social Security payroll taxes in a personal retirement account. Thirty-one percent (31%) oppose the idea.

However, a Rasmussen Reports survey found that support for letting workers invest increases dramatically (to 65%) if protections are put in place to insure that anyone who wants to remain in the current system can do so and receive full benefits.

These findings are from a national telephone survey of 1,000 Likely Voters conducted by Rasmussen Reports January 11-12, 2004. The margin of sampling error is +/- 3 percentage points with a 95% level of confidence.

Forty-seven percent (47%) of Americans believe that most workers would have higher income in retirement from a personal account. However, 30% believe that most workers would enjoy higher income by accepting government benefits.

Forty-one percent (41%) of Americans believe it is riskier to rely on the federal government for promised benefits. Forty percent (40%) believe it is riskier to let workers invest in their own retirement fund.

On all questions involving Social Security, there are tremendous differences by age and party affiliation.

On the question of whether workers should be allowed to invest for their own retirement, 62% of those under 30 say yes. However, only 33% of those over 65 share that view.

Sixty-four percent (64%) of Republicans think workers should be allowed to invest along with just 43% of Democrats.

From a political perspective, the key to increasing support for Social Security Choice is providing a guarantee that anyone who wants to remain in the program can do so. With this assurance, even 49% of today's retirees support Choice while just 30% are opposed.

Perhaps just as significant, if people are allowed to remain in the current system and receive promised benefits, 62% of Democrats under the age of 40 support giving workers a choice. Only 17% are opposed.

The chart below shows the dramatically different perceptions of risk by age. Fifty-two percent (52%) of those under 30 believe it is riskier to rely upon the federal government for benefits while just 34% say letting workers invest involves the higher risk. For those over 65, just 25% believe relying on the government is the riskier option.

10.0.0.6765 8996 6668 #000000 #000000 #000000 #000000 #000000 #000000 #000000 #000000 #000000 #000000 #000000 #000000 #000000 #000000 #000000 #000000 #8080FF #802060 #FFFFA0 #A0E0E0 #600080 #FF8080 #008080 #C0C0FF #000080 #FF00FF #80FFFF #0080FF #FF8080 #C0FF80 #FFC0FF #FF80FF Arial Clustered Column Government -1 "Government" 0 -1 {"18-29","30-39","40-49","50-64","65+"} -1 {52.0,50.0,41.0,31.0,25.0} None , Center None , OutsideEnd None 0 10 Personal Account -1 "Personal Account" 1 -1 {"18-29","30-39","40-49","50-64","65+"} -1 {34.0,31.0,38.0,34.0,48.0} None , Center None 0 10 137741420 Categories 137741984 Value 0 150 0 137748480 137741420 Category Outside None Bottom Auto 137748952 137741984 Value Outside None Left None -1 "Which is Riskier: Relying on Government or Personal Accounts?" Bottom 137741420 137741984 '>

The following table also shows different perceptions of retirement income. Those under 30 think most Americans will have a higher income in retirement by investing in personal accounts. Those over 65 think that government benefits will provide the higher income.

10.0.0.6765 8996 6668 #000000 #000000 #000000 #000000 #000000 #000000 #000000 #000000 #000000 #000000 #000000 #000000 #000000 #000000 #000000 #000000 #8080FF #802060 #FFFFA0 #A0E0E0 #600080 #FF8080 #008080 #C0C0FF #000080 #FF00FF #80FFFF #0080FF #FF8080 #C0FF80 #FFC0FF #FF80FF Arial Clustered Column Government -1 "Government" 0 -1 {"18-29","30-39","40-49","50-64","65+"} -1 {23.0,27.0,28.0,34.0,45.0} None , Center None , OutsideEnd None 0 10 Personal Account -1 "Personal Account" 1 -1 {"18-29","30-39","40-49","50-64","65+"} -1 {59.0,48.0,47.0,44.0,32.0} None , Center None 0 10 137754156 Categories 137754664 Value 0 150 0 162009728 137754156 Category Outside None Bottom Auto 162010200 137754664 Value Outside None Left None -1 "Which Will Provide Higher Retirement Income: Relying on Government or Personal Accounts?" Bottom 137754156 137754664 '>