The division has been plagued by problems ranging from unproductive pages -- arrays of products that no one orders -- to high returns (people sending what they ordered back).
So the rate of return on stock investments made now will probably be much lower than the returns people got in the past.
The higher returns people can get by investing in stocks will, he argues, let him scale back guaranteed benefits without reducing actual retirement income.
To some extent the dollar's role here reflects self-sustaining increasing returns: people use dollars because the markets are thicker and more liquid, and the markets are thicker and more liquid because people use dollars.
Unlike conventional mutual-fund investors, who often seek dramatic returns, people making monthly contributions to private pension accounts, such as the 401 k)s offered by many American companies, will rely on diversification and compounding for long-run returns.
Block says its Rapid Refund slogan refers to the electronic filing of income tax returns; people who want their money even sooner can also obtain a Refund Anticipation Loan for an extra fee.
