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Politics : High Tolerance Plasticity -- Ignore unavailable to you. Want to Upgrade?

To: chowder who wrote (22678)	1/7/2005 10:29:13 AM
From: bull_derrick	Read Replies (1) \| Respond to of 23153

dabum, that doesn't change the fact that defined benefits do not push money from the people who die early to the people who retire. Let's say 30% of the people died without collecting a dime from SS. That adds into the return of those who retire. If you collect SS, you are in part receiving money from dead people that didn't collect and that's part of the pool available to you. If everyone has a personal account, I assume that goes to the benefit of the dead guy's heirs, like an IRA. The current structure acts to the advantage of women, who actuarially live longer than men, and non-smokers over smokers, who also live longer actuarially. A defined account system, whether it's a system with 3 investment choices or 30, puts men, women and smokers all on parity because there's no shifting of funds from the deceased to retirees. That's the most fundamental flaw to this idea.