BlackRock CEO Larry Fink Wants Social Security Money In the Market— Here's Why

Benzinga_recent_news03-24

BlackRock Inc. (NYSE:BLK) CEO and Chair Larry Fink said Social Security remains “one of the most effective poverty-prevention programs in history” but fails to help Americans build long-term wealth. “...

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Social Security operates on a pay-as-you-go model, with surplus funds invested in U.S. Treasury bonds that generated about 2.6% returns in 2025.\nBy comparison, the benchmark S&P 500 index gained roughly 16% over the same period.\nFink emphasized this would not be privatization but a diversification strategy, comparable to the federal Thrift Savings Plan.\nFink pointed to a proposal by Sens. Bill Cassidy and Tim Kaine to create a $1.5 trillion investment fund alongside the current system to improve returns without cutting benefits.\nThe urgency is rising, with projections from the Social Security Administration indicating the trust fund could face depletion by 2032, potentially reducing benefits to about 79% without reforms.\n“Could a portion of the system be invested more like other long-term pension plans — carefully, broadly, and over decades — while ensuring the program remains a strong safety net?\" Fink wrote.\nFink also highlighted wider financial stress among Americans, noting many struggle with emergency savings and are tapping retirement funds early.\nHe argued that expanding access to market-based returns could strengthen long-term financial security while preserving Social Security's core guarantees.\nPrice Action: BlackRock shares fell 0.16% in after-hours trading after closing 1.74% higher at $974.58 during Monday's regular trading session, according to data from Benzinga Pro.\nDisclaimer: This content was produced with the help of AI tools and was reviewed and published by Benzinga editors.\nImage via Shutterstock\nTo add Benzinga News as your preferred source on Google, click here.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.42.0","shortVersion":"4.42.0","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2621639120","isCrawlerRequest":true}