Kent Conrad: “I think the test has to be, is it good for the country.”

If you are really going to relieve me of the administrative burden, if you are going to really relieve me of the liability, if you are going to really relieve me of the cost other than the payroll transfer.

Millions of Americans are financially unprepared for their retirement.

This Retirement Security Plan structure that we have suggested I think would go a long way toward dealing with these issues.

We also increase the payroll tax very modestly, from the current combined rate of 12.4 percent to 13.4 percent over 10 years.