Here is a short tale of how the way Americans save for retirement has changed over the last couple of generations. It helps explain what the Obama administration is up to with a new initiative this week:
Once upon a time, companies took it as their responsibility to ensure that their workers could enjoy a comfortable retirement. They socked money away in a pension plan that paid longtime employees a healthy fraction of their salary from the day they retired to the day they died. Employers took on all the risk — the stock market dropping, people living longer than expected.
Damian J. Sylvia
Retirement Income Solutions
No comments:
Post a Comment