The problems have emerged despite what all here agree is the main strength of the privatized system: an average 10 percent annual return on investments.

There is historical evidence that military personnel would likely be paid more under a privatized system.

But the privatized system actually contains hidden costs that could leave retirees with less.

Proponents argue that a privatized system would open up new funds for investment in the economy, and would produce real growth.

In a privatized system, you may do fine, but your fellow retirees may not, or vice versa.

The amount available from the privatized system was less even after midcentury, when the current system is projected to come up short.

By this time, the city had already begun shifting to a privatized system for homeless families.

They must redouble their efforts so people can transition out of a privatized system.

Mr. Oberstar said his major fear from a privatized system was an erosion of air safety.

Even if benefits must be reduced under the current system, many retirees will still do better than they would in a privatized system.