Flawed 401(k) Laws Putting Retirement At Risk, Expert Says
Oct 28th 2008Drug InformationHealth Insurance / Medical Insurance
Congress needs to reform flawed 401(k) laws that could push back retirement for millions of Americans whose savings have collapsed along with the stock market, a University of Illinois elder law expert says. Law professor Richard L. Kaplan says 401(k) accounts were meant to supplement traditional defined-benefit pensions, but have evolved into the sole nest egg for the bulk of U.S. workers whose employers offer any kind of savings program.
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