TPM Reader FL adds

TPM Reader FL adds to RM’s comments: “RM’s argument on the need for stable Social Security benefits is reenforced by an argument by Zvi Bodie (a BU finance professor) made on NPR last night. PBGC (for whom Bodie consults) is supposed to be self-financing. Inheriting the UAL pension system will require that PBGC raise insurance rates on remaining defined benefit plans. Higher insurance rates will accelerate employer moves out of defined benefit plans and over to 401K’s.”