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Social Security plan may add billions to mutual funds, brokerage accounts.
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Jan. 9--The prospect of 100 million Americans each having $1,000 of their Social Security contributions to invest every year has investment professionals salivating at the potential financial bonanza.
About $100 billion a year would be freed up for stocks, bonds and other investments under a tentative plan President Bush has floated to fix the Social Security retirement system by creating private investment accounts.
The fees paid to brokers and money managers could run into the billions.
President Bush is expected to unveil the plan in late February,…
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Social Security plan may add billions to mutual funds, brokerage accounts.
...diverting money out of Social Security is inherently problematic...for AARP. "Any plan that takes money out of Social Security will make Social...endorse private accounts. When asked about...lobbying in favor of mutual funds being a vehicle... |
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