If Congress doesn't raise taxes, you cannot get a private investment account without forgoing a portion, possibly all, of your guaranteed benefit check.

To allow all U.S. workers to put part of their earnings into private investment accounts would definitely erode the Social Security system and cause uncertainty for new investors.

Latinas' life expectancies are relatively long. When a current retiree hits 65 and begins receiving her benefit check, she can expect to live another 22 years. That life expectancy is higher than white women or men.

Because of their low earnings and family obligations, Latinas would not be putting much money into private investment accounts. An average Latina could wind up losing thousands of dollars under this proposal.

There is a need for Social Security reform to ensure its stability, and Congress must act.

Because Social Security is specifically designed to boost the retirement income of low earners with a progressive benefit formula, the program has played an enormous and necessary role in keeping Latinas out of poverty.