This PPI research report by Sandy Mackenzie finds that the diminished role of traditional pensions and the dominance of 401(k) plans threaten the retirement security of older Americans. The 401(k) plan encourages improvident behavior by leaving the choice of contribution rate to members, and it provides neither protection from investment risk nor longevity insurance. Alternative pension arrangements can mitigate the 401(k) plan’s shortcomings. … Back to Article
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