Earl Pomeroy: “That is precisely correct. The gentlewoman is exactly right. These earlier studies have been flawed, and they are being…”

“That is precisely correct. The gentlewoman is exactly right. These earlier studies have been flawed, and they are being corrected by a spate of recent studies done by all perspectives out there analyzing this very important issue. I cite for the gentlewoman's attention a November, 1998, EBRI study. Now EBRI is the Employee Benefits Research Institute, a business-funded research group assessing the impact of administrative fees on these individual accounts. The thrust of the study, quite likely the administrative fees certainly eclipse any enhanced earning opportunity under the individual account proposal, if they are administratively possible in the first place.”