Todays Retirement Plans
Many look to the past through rose tinted glasses, nostalgia is a powerful emotion and can distort how we view the recent past. This can even take hold in cases such as retirement saving and planning. Some experts compare todays retirement plans such as 401(k)s to the traditional pensions of yesteryear when looking at our current “retirement epidemic.” Andrew Biggs says that the truth behind our terrible savings rates could lie in worker education on the subject. In his most recent article, posted here with Forbes, Biggs discusses arguments comparing pension plans in the past to what workers have available today.