Monday, March 21, 2005

Where does 75% equal 33%?

In the Washington Post:

Nearly three-quarters of workers who opt for Social Security personal accounts under President Bush's "default" investment option are likely to earn less in benefits than those who stay with the traditional Social Security system, a prominent finance economist has concluded.

A new paper by Yale University economist Robert J. Shiller found that under Bush's default "life-cycle accounts," which shift assets from stocks to bonds over a worker's lifetime, nearly a third of workers would bring in less in benefits than if they remained in the traditional system.


Blogger Tolles said...

That's right, Max. Keep flogging that private accounts plan! It's going great so far.

1:09 PM  
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