“Retirees may be forgiven for indulging in nostalgia, but all too often our thinking about retirement falls prey to that vice. Criticism of 401(k) plans is once again being voiced, and once again being read against the background assumption that in the good old days we had a better retirement system based on traditional defined-benefit pensions.”

LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform):
In case you missed the recent media anguishing over the decline of defined-benefit plans and the alleged problems with defined-contributions—which lamentations we didn’t consider worthy to cover in a Clipping—you’d be better served to read this piece debunking such hand-wringing.  It’s good, even though it doesn’t mention the main reason to replace public and corporate pensions with personal savings and investments—the unfunded liabilities of the former.  

A Little Optimism on the Future of Retirement

#goldencareagent