Abstract
In the last few years there has been a push from the Department of Labor (DOL), IRS, SEC and Congress to change 401(k) plans from savings plans at the full discretion of the employee to retirement plans with legislative requirements to target retirement income. Many practitioners are saying we are moving quickly to a 401(k) plan that looks like a ‘Defined Benefit plan at the participant level.’ In effect, everything is changing except that the participant must accept the risk. This puts a burden on all parties to understand and manage the true risks involved.
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© 2011 Frank Sortino and David Hand
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Sortino, F., Hand, D. (2011). The 401(k) Retirement Income Risk. In: Mitra, G., Schwaiger, K. (eds) Asset and Liability Management Handbook. Palgrave Macmillan, London. https://doi.org/10.1057/9780230307230_6
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DOI: https://doi.org/10.1057/9780230307230_6
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-32573-3
Online ISBN: 978-0-230-30723-0
eBook Packages: Palgrave Economics & Finance CollectionEconomics and Finance (R0)