The Alliance for Worker Retirement Security:
Who We Are and What We Stand For

Launched by the National Association of Manufacturers in 1998, the Alliance for Worker Retirement Security (AWRS) is a broad based coalition of over 40 organizations representing large and small employers, corporations, and other diverse groups. Membership includes the NAM, U.S. Chamber of Commerce, the Business Roundtable, NFIB, Pfizer, the Hispanic Business Roundtable, the United Seniors Association and many more.

The mission of the Alliance for Worker Retirement Security is simple: develop and promote Social Security reform legislation that:

  1. Permits workers to invest a portion of their payroll taxes (FICA) in individually-directed personal retirement accounts (PRAs),
  2. Guarantees a “safety-net” (minimum government benefit) for all retirees,
  3. Preserves the benefits of current and near retirees,
  4. Does not increase the payroll tax,
  5. Does not have the government investing in the stock market, and
  6. Is not financed out of general revenue or income taxes without significant and sustainable structural reform.

For far too long, business sat on the sidelines while the demographics of Social Security led to repeated and temporary “fixes” by Congress. This Band-Aid approach has resulted in higher taxes and lower benefits. Yet, despite these benefit cuts and tax increases, the system continues to hemorrhage from the weight of a long term deficit that now approaches $10.5 trillion. According to the most recent Report of the Trustees of the Social Security Administration, absent reform, Social Security taxes will have to be raised by 50 percent or benefits cut by over 30 percent in order to remain solvent. Neither choice is acceptable.

Faced with a failing pay-as-you-go system, employers had a choice ­ get involved now or pay later. The AWRS was formed as a down payment on a better system for both employers and employees. We believe the foundation of this modernized system lies in the implementation of personal accounts that allow for ownership and wealth creation for employees without increased taxes on employers.

The business community will be severely impacted by Social Security reform. If done wrong or not at all, Social Security will continue to consume a larger percentage of GDP (paid for through higher taxes), will slow economic growth and reduce employment. If done right, through the creation of personal retirement accounts, savings will increase, the cost of capital will decrease, and the economic returns will be tremendous.

The Alliance for Worker Retirement Security and its members stand ready to assist Members of Congress and candidates that support comprehensive Social Security reform in line with our six common-sense principles. For more information, see our website at www.retiresecure.org or contact Derrick Max, the executive director of the AWRS, at 202-637-3453.