The economist and Social Security expert discusses whether or not there’s a retirement crisis, as well as how the U.S. government’s retirement plan could be a model for how low- and middle-income workers save….(read more)

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Andrew Biggs is a prominent name in the world of finance, known for his expertise in retirement and pension plans. He has been a key player in numerous public policy debates, particularly on Social Security reform, and has contributed his insights to various publications and media outlets. One of his latest proposals, The Long View, is centered around creating a thrift savings plan for the masses.

The Long View is essentially a long-term, low-cost retirement investment plan for American workers. The idea is to offer a simple, accessible savings option that can yield long-term benefits without putting undue strain on a person’s finances. This plan would be available to anyone, regardless of their employment status, with the option to opt-out if desired.

One of the key features of The Long View is its simplicity. Most people are put off by complex investment options that require a high level of technical knowledge to navigate. By contrast, this plan would offer a streamlined approach, with minimal fees and expenses, making it easy for anyone to understand and manage. It would also allow people to invest in low-cost index funds, which are known for their long-term stability and consistent returns.

Another important aspect of The Long View is its accessibility. Far too many Americans lack access to secure retirement options, particularly those who work in jobs that don’t provide retirement benefits. This plan would be available to everyone, regardless of their employment status, and would offer a way for people to save for their future. This would be especially beneficial to gig workers, freelancers, and other self-employed individuals who may not have access to traditional retirement plans.

Andrew Biggs has emphasized that The Long View would not replace Social Security but would rather complement it. Social Security provides a safety net for retirees, but it may not be enough to meet all their financial needs. The Long View would offer an additional layer of security, enabling people to save more and build a more solid financial foundation for their retirement years.

Overall, The Long View has the potential to be a game-changer for retirement savings in America. With its simple, low-cost approach, it could help millions of people build a more secure financial future. Andrew Biggs has put forth a compelling vision that could help transform the retirement landscape in the US, and it’s worth taking a closer look at his proposals.