Quote:
Originally posted by ltl/fb
And this differs from administering social security (as it is now, not with individual accounts) how? No one pays for anything themselves there, either.
See also growing concerns re: fund-level fees for 401(k) plans, which are individual account plans. The fees are "invisible" so no one notices. They just reduce returns by a LOT in the aggregate in the long run.
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The cost savings in hospitals I doubt has to do with pure admin. It has to do with waste, overbilling, etc. If you're talking pure admin, which we are for SS, figure out whether Ross Perot or the US gov't is likely to do it better and cheaper.
As for 401(k)s, sure there are invisible fees. But I'm more hopeful of their visibility than the hidden costs taxpayers bear of administering a retirement system.
