” I used to work for UPS who still has a defined benefit plan which is completely funded and one of the best around. They invest in financial instruments and real estate. Not sure how it would be immune to “whims” or “vagaries”... “
Has anybody crunched some numbers to see what would have happened to Bush’s ‘Social Security Privatization Plan’ under these conditions??
5% of your social security would give a better than 2% return of social secuirty. Remember it is all about people directing their own investment so you have to ask what would they be investing in?
Unionistas would invest in GM, for example.
My financial planning includes an allowance of $0.00 coming from SS in my retirement. Not that I grudgingly part with %15 of my income and like it being squandered by Washington.
If I knew my SS account had lost 40%-50% of its value, it would still be much more than I’m counting on under the current plant.