[Date Prev][Date Next] [Thread Prev][Thread Next] [Date Index] [Thread Index]

Re: OT: Politics [Was:Social Contract]



Roberto C. Sanchez wrote:
Mumia W wrote:
>> [...]
The experts at the Social Security Administration *are* doing it, and
they're doing an incredibly efficient job at it too. Social Security has
less than 1% administrative overhead. No private retirement options come
even close.

Uh, according to http://www.fool.com/school/basics/basics04.htm:

"Administrative costs are the costs of recordkeeping, mailings,
maintaining a customer service line, etc. These are all necessary costs,
though they vary in size from fund to fund. The thriftiest funds can
keep these costs below 0.2% of fund assets, while the ones who use
engraved paper, colorful graphics, and phone answerers with
high-falutin' accents might fail to bring administrative costs below
0.4% of fund assets."

So the SSA is up to 5 times more wasteful than the "thrifty" private
funds, and more than twice as wasteful as the worst of them.
[...]

I stand corrected.


There are funds out there that specialize in low risk investment.  Some
people are very risk tolerant and others are not.  That is a personal
decision, not one that should be made by the government.


Both the government and the people have decided that retirement security is a national concern.





Reply to: