Annuities instead of Social Security?

Wow. Just wow.

Set aside Rick Perry and Texas GOP wingnuts, and sometimes a good idea like this comes out of the Lone Star State.

Column authors Henry T. C. Hu and Terrance Odean say government-provided annuities would replace the uncertainty of retirement budgeting folks in their 40s and 50s face today and would actually stimulate grown in private annuities, too.

Our proposal is a winner for everyone. The Treasury could lower borrowing costs and diversify its investor base while acknowledging and budgeting for risk that it already bears. Individuals could eliminate the risk of living too long. By looking at the promised rate of return on the annuities, individuals will have a better sense of how much they need to save.

Where do I sign up?

Seriously, I'm not sure on the details, but it sounds like this would level a playing field that currently isn't totally level, on differing Social Security payouts.