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401(k)s are too risky for retirement

By: Yossel in SOCIAL SECURITY | Recommend this post (0)
Wed, 09 May 12 2:44 AM | 398 view(s)
Boardmark this board | Social Security-Retirement Issues

Msg. 00065 of 00108
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401(k)s are too risky for retirement

Yvonne Walker,
Special to CNN

Updated 3:10 PM EDT,
Tue May 8, 2012

Yvonne Walker says Americans would be better served by a new type of pension instead of 401(k)s.

STORY HIGHLIGHTS

Yvonne Walker: 401(k)-style plans create danger of tipping retirees into poverty

Walker says 401(k)s and IRAs lost $2.8 trillion -- 47 percent of their value -- in 2008

We need innovative retirement models that provide guaranteed retirement income, Walker says

Walker: California and New York City have recently proposed such innovative plans

link-
http://www.cnn.com/2012/05/08/opinion/walker-retirement/index.html?hpt=hp_t3

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