It looks like some forms of "defined benefit" pensions may make a comeback.
From Yahoo News ...
When 401(k)s were first introduced in the late 1970s, most workers still had “defined benefit” pensions — retirement plans where employers made all the decisions about what to invest where. Back then, 401(k)s were intended as mere supplements to those plans
The aggregate retirement income deficit for all Baby Boomers and Gen Xers — that is, the amount by which their savings, plus Social Security, fall short of what they’ll need — is $4.3 trillion, according to the Employee Benefit Research Institute.
A worker who makes $75,000 per year and saves 8% of that annually in a 401(k)would lose 2.8 years’ worth of savings in a target-date fund with a 0.2% fee and 11.6 years in one with a 1% fee, over the course of a career, according to an analysis by Towers Watson.
- No Credit? No Problem (23 replies)
- George Flinn for Senate? (4 replies)
- State finally admits its for-profit virtual academy is a flop (5 replies)
- Knoxville News Sentinel website makeover (10 replies)
- Jonathan Turley - "Get ready for an even bigger threat to Obamacare" (13 replies)
- Knoxville firefighters endorse Cheri Siler for State Senate (3 replies)
- Tennessee, an inauspicious place to raise children (1 reply)
- State of Tennessee facing Medicaid enrollment lawsuit (4 replies)
- Report: School board member/candidate Gloria Deathridge health issues (1 reply)
- Congress comes together to help the disabled save, tax-free (1 reply)
- Knox Co. should resolve Halls greenway project issues (25 replies)
- Jason Emert, Sleazy campaigner (10 replies)
- Jul 24 2014 - 6:00pm (11 hours 19 min from now)
- Jul 26 2014 - 9:00am (2 days 2 hours from now)
- Jul 29 2014 - 10:00am (5 days 3 hours from now)
- Jul 29 2014 - 5:30pm (5 days 10 hours from now)