BlackRock CEO Larry Fink sent his annual letter to investors on Tuesday in which he cited the “immense strain” on Social Security amid the aging of the U.S. population and the need to reform the retirement system given its looming insolvency.
Fink explained the economics behind Social Security, which collects taxes from people who are working to pay those in retirement who are receiving benefits: “During your working years, the government takes a portion of your income, then after you retire, it sends you a check every month. The idea…
