The Guaranteed Retirement Account - A replacement for 401k plans?
David Schepp of CBS Money Watch takes a look at “Guaranteed Retirement Accounts” (GRAs) in an article posted on www.cbsnews.com, explaining how they would be structured and how they would address the growing savings shortfall facing future retirees. Schepp’s article introduces a white paper produced by Teresa Ghilarducci, from The New School university and Hamilton “Tony” James, president of Blackstone Group, a New York-based asset-management firm, and covers some of the fundamental differences between GRAs and other savings mechanisms. Read the article here…
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