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State Street Chairman Applauds Efforts to Revive Social Security

Marshall Carter, chairman and ceo of State Street Corp., recently applauded efforts by the Clinton Administration and the Congress to invest Social Security funds in financial markets in order to preserve and strengthen the system.

"Social Security is the bedrock of most Americans' retirement planning," said Carter. "We must take steps to preserve Social Security's broad benefit to American workers." Carter also said that the Social Security program in itself was not adequate. "We also need to enhance other pension coverage and raise personal savings if future generations are to be able to retire with dignity," he said.