State of Alaska Archives: on Social Security
Make Retirement Trust Fund sustainable by adding $3B
Washington has not made Social Security sustainable, but in Alaska we can reform our pension system so it is fully funded. Fellow Alaskans, the time is now to tackle our $12 billion pension deficit. Alaska's escalating annual pension payments squeeze
dollars from every other program and State service--education, public safety, natural resources--and that vise will soon tighten. Without action, our $630 million annual payment will balloon to more than $1 billion.
To keep Alaska strong, I propose we transfer $3 billion of our $16 billion in budget reserves into the Retirement Trust Fund. Next year, this shift will allow us to reduce our annual payment to $500 million, instead of
more than $750 million--that's a savings of more than 50% in the first year. Our plan will dramatically drop future operating budgets and put us on a more sustainable financial path.
Source: 2014 State of the State Address to Alaska legislature
Jan 22, 2014
Eliminate the cap to pay for expanding program
Q: The Social Security trust fund will be insolvent by 2034. What is your solution?
A: Today there is a $118,500 cap on income taxed for Social Security. Billionaires pay the same as someone making $118,500 per year. As structured, Social
Security places the largest burdens on the poorest among us. I agree with Bernie Sanders. Eliminate the cap. According to Sanders research, lifting the cap would not only fix the problem, it would enable expansions.
Source: 2016 Alaska Senate campaign website on NationBuilder.com
Jun 24, 2013
Privatize elements of Social Security
Q: Do you support privatizing elements of Social Security?
Q: Do you support reducing government regulations on the private sector?
Source: Alaska Congressional Election 2010 Political Courage Test
Sep 1, 2010
Home-based assistance more cost-effective than institutions
I support funding our Seniors Longevity Bonus Program so the program can phase out on schedule, in agreement with public discussion years ago.
The program was declining and it was a shame to see our esteemed pioneers face broken promises when they were prematurely lopped off the program.
I also support home and community based assistance programs, which are more cost effective than institutional alternatives and also allow seniors to stay in their homes and communities with dignity.
Senior citizens will be respected in my administration and will receive our full respect and support. They are my delight and I will not let them down.
Source: Palin-Parnell campaign booklet: New Energy for Alaska
Nov 3, 2006