Tuesday, February 22, 2005

Private accounts

Kevin Drum talks about real-world experience with them around the country:

[. . .]

When Nebraska's state and county workers were given do-it-yourself accounts, they made so many investment errors that they ended up making less than colleagues with fixed-benefit pensions — and less than what analysts have said is needed for old age. Their poor performance led the Nebraska Legislature two years ago to junk the accounts for new employees.

[. . .]

Charlie Rangel said Chimpy's SSI 'reform' is DOA. Let's hope he's right.

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