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Lobbying to Replace the 401(k) Model Is Lunacy
Phil Chiricotti, via Fiduciary News Link to more items from this source
Aug. 19, 2014
"401k plans are the most successful savings vehicle in history... [C]ritics often paint 401k plan liquidity features as a negative, but these features are a huge advantage and one of the primary reasons low income workers participate. Another major positive is the fact that 401k plans do not require annuitized payouts. The states are positioning to reassert their rights and while some of the proposals may provide an income stream that can't be outlived, many of the payouts will be next to nothing. This is also the worst possible time in history to annuitize an income stream, something the media, policymakers, and academics conveniently ignore."

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