Social Security Report

The Guaranteed Retirement Account

The Guaranteed Retirement Account is a new proposal devised by Teresa Ghilarducci and Hamilton James, two leading experts in the financial field. This account would serve to replace current retirement accounts as a “comprehensive plan to confront the retirement savings crisis.” This is a pension that would be personally managed and funded by the account holder with an automatic deposit of 3% out of each paycheck that would be matched by the employer. These accounts would then be invested together in to long term investments that would offer higher yields than traditional 401(k)s. For more information on this subject, visit this article by David Schepp with CBS News.

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