H-3666.1  _______________________________________________

                     HOUSE JOINT MEMORIAL 4027

          _______________________________________________

State of Washington      55th Legislature     1998 Regular Session

By Representatives Dunn, Mielke and D. Sommers

Prefiled 01/09/98.  Read first time 01/12/98.  Referred to Committee on Appropriations.

Requesting that United States Congress amend the Social Security Act to allow issuance of waivers to states. 

    TO THE HONORABLE WILLIAM J. CLINTON, PRESIDENT OF THE UNITED STATES, AND TO THE PRESIDENT OF THE SENATE AND THE SPEAKER OF THE HOUSE OF REPRESENTATIVES, AND TO THE SENATE AND HOUSE OF REPRESENTATIVES OF THE UNITED STATES, IN CONGRESS ASSEMBLED:

    We, your Memorialists, the Senate and House of Representatives of the State of Washington, in legislative session assembled, respectfully represent and petition as follows:

    WHEREAS, Social Security is a federal program that does not recognize the individual retirement needs of many Americans; and

    WHEREAS, Social Security tax revenue alone will be insufficient to pay current benefits as early as the year 2012; and

    WHEREAS, The Social Security Trust Funds may be completely exhausted by the year 2029; and

    WHEREAS, The investment return on Social Security contributions made by many workers today is significantly below that available from other sources; and

    WHEREAS, Workers in the State of Washington deserve the opportunity to invest more productively for their own retirement; and

    WHEREAS, More retirement investment alternatives might dramatically increase Washingtonians' savings rate and might dissuade young adults from leaving the State of Washington to seek jobs elsewhere; and

    WHEREAS, The federal government has recognized Washington State's ability to develop successful alternatives for managing federal programs at the state level through waivers for the Washington basic health plan and welfare-to-work jobs program;

    NOW, THEREFORE, Your Memorialists respectfully pray that the Congress of the United States enact legislation amending the Social Security Act to allow the issuance of waivers to the states that will permit the design and implementation of alternatives to Social Security.

    BE IT RESOLVED, That copies of this Memorial be immediately transmitted to the Honorable William J. Clinton, President of the United States, the President of the United States Senate, the Speaker of the House of Representatives, and each member of Congress from the State of Washington.

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