Private Pensions: Increased Reliance on 401(k) Pla

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Private Pensions: Increased Reliance on 401(k) Plans Calls for Better Information on Fees

Over the past 20 years there has been a shift in t

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By Barbara D. Bovbjerg (au)
Year: 2007
Pages: 20
Binding Paperback

Product Code: 1422314669

Description

Over the past 20 years there has been a shift in the types of pension plans employers are offering employees. Employers are increasingly moving away from traditional defined benefit plans to the 401(k). Specific info. about the plan & plan options becomes more relevant than under defined benefit plans because participants are responsible for ensuring that they have adequate income at retirement. While info. on historical performance & investment risk for each plan option are important for participants to understand, so too is info. on fees because fees can significantly decrease participants’ retirement savings over the course of a career. This testimony focuses on: trends in the use of 401(k) plans; & the types of fees assoc. with these plans. Illus.

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