PT  - JOURNAL ARTICLE
AU  - M. Barton Waring
AU  - Laurence B. Siegel
TI  - Wake Up and Smell the Coffee! DC Plans Aren't Working
AID  - 10.3905/joi.2007.698967
DP  - 2007 Nov 30
TA  - The Journal of Investing
PG  - 81--99
VI  - 16
IP  - 4
4099  - https://pm-research.com/content/16/4/81.short
4100  - https://pm-research.com/content/16/4/81.full
AB  - Defined-contribution plans are not meeting the goal of enabling employees to save enough to retire. Improving them involves a savings component, an investment component, and a payout component. To encourage savings, employers can use behavioral strategies such as a high default savings rate and auto-escalation. The investment component should center on pre-mixed asset allocation funds built of index funds and carefully selected active funds. Payout options should include annuities, which enable the employee to convert savings to a guaranteed lifetime income as in a defined benefit plan.TOPICS: Retirement, in wealth management, mutual funds/passive investing/indexing