PT  - JOURNAL ARTICLE
AU  - Matthew H. Scanlan
AU  - Carter M. Lyon
TI  - The Retirement Benefits Crisis
AID  - 10.3905/joi.2006.635627
DP  - 2006 May 31
TA  - The Journal of Investing
PG  - 28--41
VI  - 15
IP  - 2
4099  - https://pm-research.com/content/15/2/28.short
4100  - https://pm-research.com/content/15/2/28.full
AB  - Since the middle of the twentieth century, employees have reasonably expected their employers to provide a major part of the means by which they can retire. The traditional pension plan, known as the defined benefit (DB) plan, and one of the legs of the “three-legged stool” of retirement security, is the focus of this article. All three legs of the stool are now arguably in crisis, but if you like to find encouragement in small blessings, the problems of DB plans are in principle the easiest to solve. This article examines the current crisis and makes suggestions on a plan of action to rectify it.TOPICS: Long-term/retirement investing, retirement, pension funds