The PRIVATE universities with large endowments seem to be very good at managing their money in ways that keeps them very stable even when the economy tanks. You don't see them slash and burn staff like the for profit schools every other quarter when there is small downturn.
Should we make retirees spend at least 8% of their investments as well. They are just hoarding that money it should be out in the economy. It really seems to bother some people to let any person, school or company keep ample funds to be stable through any financial disaster, typically caused or allowed to happen by "experts" with a 90 day view of the world.