Recently there was an Ulmer/Hall television ad that attacked Frank Murkowski on his vote in the Senate on privatization of the Social Security program. Having been a state employee myself for over 20 years, and very familiar with state programs, attacking that vote would be humorous if not so serious. About 20 years ago, the state of Alaska withdrew completely from the Social Security program and is completely privatized. State employees and all other employees such as teacher and municipalities that participate in the State Retirement program do not pay Social Security. Instead, the amount that was deducted for Social Security in the year the state withdrew is deducted from the paycheck, the state matches it and places the funds in the employee's individual account in the Supplemental Benefits System (SBS) account. Each employee then determines if they want their funds in stocks, bonds or interest-bearing accounts.
Since Ulmer did nothing to change this program as a legislator or as the lieutenant governor, she must like privatization of Social Security. Everyone I know that is in the SBS program likes it and it is little wonder that she didn't attempt to change it.
Alaska needs Frank Murkowski as our next governor; he is a man we can trust for honest leadership.
Roberley R. Waldron
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