A recent report from the Employee Benefit Research Institute (EBRI) sheds light on how badly lower income workers fare under the new defined contribution (DC) system compared with the defined benefit (DB) plans of old.
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I've always encouraged people to put the maximum amount into a 401(k) plan. Few do. Many put in little or nothing at all. Now they are looking at a bleak retirement. Or no retirement at all.
By Lindsay Beyerstein, Media Consortium blogger
Fashionable pundits like to say that the Republican Party has shifted its focus from "social conservat...
We have a financial system that has played to people's weaknesses. We have allowed people who are prone to instant gratification to have as much credit as they could get their hands on.
I am appalled that both presidential candidates have proposals that will make it easier for people to blow their 401(k) money.
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