Members of Congress are doing very well (with private accts addon to Soc S

[papau]

http://www.msnbc.msn.com/id/6919700/site/newsweek


Members of Congress are doing very well indeed under a plan comparable to the one President Bush would allow all Americans to participate in

By George F. Will
Newsweek


Feb. 14 issue - <snip>Begun in 1987, the Thrift Savings Plan, which as of December 2004 had assets of $152 billion, is a retirement-savings plan open to all civilian federal employees, including senators, and all members of the uniformed services.

They can invest as much as 14 percent of their salaries in one of five retirement funds. Consider the rate of return of C Fund, one of the five. It is a common-stock fund, so it should represent the risks that Reid thinks should terrify Americans:

In only four of 17 years has the rate of return been negative. But in 11 years the rate has been greater than 10 percent, in eight years it has been greater than 20 percent, in four years it has been greater than 30 percent. The compound annual rate of return for the last 10 years has been 12 percent, and the return over the 17 years has been 12.1 percent.

Reid participates in the plan, but opposes allowing all Americans the comparable opportunity that Bush is proposing. But if the numbers just cited are the result of roulette, the legislators should let the rest of us into the game in which they are prospering.

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LOL - CAN WE SAY WILL IS A LIAR - AND TRIES TO SELL THE SUCESS OF ADD-ON ACCOUNTS LIKE 401K'S AS THE SAME AS CARVE OUT SOCIAL SECURITY DESTROYING BUSH ACCOUNTS!

[stray cat]

1. High income earners like congress are likely to fair better than most.

Add on accounts and 401Ks are a lot different than Bush's plan.

[swag]

2. You got that right - Will is a liar, and calling a 401k or 403b

the same thing as the Social Security robbery the Cheney/Bush junta has in store for us is either disingenuous or stupid.

P.S. - we already have "personal accounts" in this country. They are called Individual Retirement Accounts (IRAs).

[oneighty]

3. I have TIAA-CREF

The payout fluctuates and it is considered to be a good conservative investment plan. My pay out dropped 32 percent when Bush took office and has not recovered yet.

The Social Security is more reliable.

180

[Inland]

4. And fed employees get salaries, too. Do I get one?

Will confuses an employment benefit with a social program. What a douchebag.

Next he'll demand we get parking spaces at National and offices in the capitol.

[dbeach]

5. Thrift Savings Plan[TSP} took a huge hit when occupant bush

assumed the presidency..I know that the losses were staggering..many Postal employees suffered huge losses...

its all pay back to wall st. and new ways to ruin the middle class and collapse the USA into a 3rd world country where bushfraud can be first dictator..