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Pension policy, the search for better solutions

By: Material type: TextTextPublication details: Kalamazoo, Mich. W.E. Upjohn Institute for Employment Research 2010Description: n.dISBN:
  • 9780880993548
Subject(s): DDC classification:
  • ER243
Online resources: Summary: The U.S. pension system is in decline, and it needs fixing. Odds are that current workers, when they retire, will lack the financial security of current retirees. For the growing number of workers who rely on 401(k) plans for retirement savings, dramatic declines in the financial markets in 2008 cruelly brought home the fact that they have taken on the investment risk previously absorbed by employers when defined benefit plans were the dominant form of pension. Today, not only are workers responsible for selecting investment accounts that they hope will deliver positive returns, they also have to be sure to retire when the markets are up or they face running out of money in old age.
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eBooks Vikram Sarabhai Library Reference Electronic Resources ER243 (Browse shelf(Opens below)) Available ER000243

The U.S. pension system is in decline, and it needs fixing. Odds are that current workers, when they retire, will lack the financial security of current retirees. For the growing number of workers who rely on 401(k) plans for retirement savings, dramatic declines in the financial markets in 2008 cruelly brought home the fact that they have taken on the investment risk previously absorbed by employers when defined benefit plans were the dominant form of pension. Today, not only are workers responsible for selecting investment accounts that they hope will deliver positive returns, they also have to be sure to retire when the markets are up or they face running out of money in old age.

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