How to Fix the Retirement Savings Crisis
Description
Why 401k and other defined contribution schemes are flawed, leading to a generation of workers unprepared for retirement. What are the solutions to fix the mess.
Topics
- Why 401k and other defined contributions haven't worked, despite their popularity
- Why defined benefit pension plans declined
- Why 401k plans are treated like emergency funds
- How to combine the best of 401k and defined benefit pension plans
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Show Notes
The Shift that Redefined Retirement Security by Shashwat Vidhu Sher—SSRN
Was the 401(k) a Mistake? by Michael Steinberger—The New York Times Magazine
U.S. Retirement Assets: Data in Brief—Congressional Research Service
Where do my CPP contributions go?—CPP Investments
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United States
Canadian pension plan with mandatory participation and an extraction of over 5% from your salary and an employer match out of your compensation of another over 5% is your solution? We already have a defined benefit plan like that except extracting much more of total compensation. It's called social security and it's been horribly managed by our gubmit overlords. Look to Chile as a model. Agree aggregated plan participants do benefit by deaths of other plan participants. Spect the pols know?
dude clear your throat. you can stop the tape you know.