Retirement in a Defined Contribution Era: Making the Money Last
56 Pages Posted: 9 Jun 2010
Date Written: 2008
As a result of federal legislation enacted in 2001, there is now almost total portability of assets between all types of defined contribution plans. Therefore, the main focus of attention is to increase the number of employees who are covered by a defined contribution plan, to increase account balances, particularly for middle and low income employees, and to reduce the amount of pre-retirement leakage from the retirement system.
This article addresses these issues and explains why they present problems. Additionally, the article proposes new ideas for policy makers to consider.
Keywords: retirement, contribution plans
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