Supports boosting social security funds through the establishment of individual retirement accounts; introduced a plan in 2000 in which workers would have the option of investing at least 20% of their Social Security payroll taxes in private accounts. Also supports creating private retirement accounts for younger workers.

Opposes private retirement accounts. Favors lifting cap on payroll tax, "potentially exempting middle-class folks, but making sure that the wealthy are paying more of their fair share." Favors automatic 401 (k) and IRA enrollment for workers and expanding the Savers Tax Credit. Would also protect private pension plans by forcing companies to properly fund them and avoid taxpayer bailouts.