"The personal retirement-savings plans that most Americans use, such as 401(k)s and [IRAs], are unnecessarily costly and needlessly risky. But instituting another kind of retirement plan that combines the best elements of both defined-contribution and defined-benefit plans -- such as the Center for American Progress's [CAP's] proposed Secure, Accessible, Flexible, and Efficient, or SAFE, Retirement Plan, or the related USA Retirement Funds proposal from Sen. Tom Harkin (D-IA) -- could provide a more secure retirement at a far lower cost ... Our actuarial analysis finds that CAP's SAFE Retirement Plan significantly outperforms both 401(k)s and IRAs on cost and risk measures."  MORE >>