So, About That 401(k)? It's Probably Not Going to Be Enough

October 29, 2013

One of the top targets of the 1% has been retirement security for America's working families. In addition to near constant congressional attacks on Social Security and companies attempting to reduce or get out of pension obligations, a widespread and growing tactic is to force employees to shift from defined-benefit plans that pay them a fixed amount each month in retirement, to defined-contribution plans, where the amount paid in is fixed, but payouts in retirement can change over time. This switch to defined-contribution plans, such as 401(k) plans, almost universally means less money to live on for retirees. 

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