In response to speculation about the future of the Social Security system, the Securities Industry Association’s latest
Research Report
reviews the impact the possible introduction of personal accounts might have on the securities industry. Contrary to speculation that firms would see significant revenue gains from the administration of these accounts, SIA Vice President and Director, Industry Research Rob Mills believes that, rather than a “free lunch,” Wall Street will realize only modest gains from these accounts. Mills bases his conclusions on the Thrift Savings Plans, a model used for federal and military employees, projections from the Social Security administration, and estimates of participation and investments.
The report is available at: http://www.sia.com/research/pdf/RsrchRprtVol5-13.pdf
