Should the federal government provide annuities? Better to create a suitable legislative structure for new private-sector options.
Forbes post, “A Social Security Annuity Buy-In? Why Thaler And Ghilarducci Are Both Wrong”
Should the federal government provide annuities? Better to create a suitable legislative structure for new private-sector options.
Nice!
As a fellow actuary here’s my non-actuarial $0.02: We have a government run pension (SocSec), that will soon be paying out more than it takes in, will use up old excess within 2 decades, that takes a 12.4% combined contribution rate and with that replaces 30% (or maybe 40%?) of my salary, and I should give them more of my money? Get outta here!
And yes, in full disclosure, I would for a (very highly rated) insurance company; we are much less likely to do something stupid than the US government.