>> By the individual or a representative the individual selects. It should not be invested by the government. <<

Better to be invested for the individual than the government, IMO, at least partially. But even if done by the government for their own trust fund I think it's better to invest a 25-year-old's contributions in an 80/20 stock/bond mix than 100% in Treasuries. Investing the retirement contributions of a 25 year old in 100% Treasuries is financial malpractice.

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