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- Title
Investment Education Under 401(k) Plans.
- Authors
Bischopink, Judy A.; Meister, Gail Gordon
- Abstract
In the past, many people in the U.S. relied on their employers to make the major decisions about their retirement plans. And for the most part, employers incurred the investment risk while providing employees with a specific monthly income at retirement. The benefits environment, as of 1996 is quite different. More employers are shifting from defined benefit plans to defined contribution plans, which provide a way to accumulate assets instead of a monthly benefit at retirement. As employees assume more responsibility for investment decisions, they must learn more about investment terminology and strategy. In addition, new U.S. Department of Labor rules under the Employment Retirement Income Security Act of 1974 Section 404 place even more responsibility on participants, who may not be ready to make competent investment decisions.
- Subjects
UNITED States; RETIREMENT planning; FINANCIAL planning; RETIREMENT income; RETIREMENT benefits; INCOME
- Publication
Benefits Quarterly, 1994, Vol 10, Issue 2, p33
- ISSN
8756-1263
- Publication type
Article