Naked Capitalism has the story Will Hillary Clinton Adopt Hedgie Billionaire John Arnold’s Schemes for Retirement Insecurity?

The front-running scheme for “retirement security” — backed by billionaire John Arnold — looks an awful lot like it’s “on the table” because it guarantees that middlemen collect fees for “managing” what we used to call your “nest egg.” Will Hillary Clinton’s campaign platform support it?

Hillary Clinton Has Ruled Out Expanding Social Security.

This is a warning to watch your wallets. The article is too filled with just pejoratives, and a little light on specifics, but it does warn us of things to watch out for. In fact, this plan might sound a little like the Modigliani/Muralidhar plan or the one I proposed in my previous post in November 2013 Elizabeth Warren: We should be talking about expanding Social Security benefits. However, the devil is in the details. The details in this case is all about the size of the fees. Large fees can turn a retirement plan from a saving grace (pun intended) to a disaster for the retiree.

Here is a very simple test for any retirement plan. If any manager gets to be a billionaire by managing such a program, then the beneficiaries are being robbed. Those billions of dollars represent money that the beneficiaries should have had.