Word: k
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Dates: during 2000-2009
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Over the past 30 years, the way we save for retirement has come to be dominated by one plan: the 401(k). But the financial crisis and resulting market meltdown showed the 401(k) to be far from perfect. A number of academics and others have proposed either changes to the 401(k) system or scrapping it altogether. Roger Ferguson Jr., chief executive of the investment firm TIAA-CREF, is one of the few financial executives who have backed changing the system. Ferguson's opinion is sure to have some sway. He is a former vice chairman of the Federal...
Unsurprisingly, his solution is the one his company already sells - a 401(k)-like plan that Ferguson says has done a better job of boosting retirement savings than the original. The 3½ million retirement accounts in the TIAA-CREF system have an account that is on average 50% higher than the average 401(k). Ferguson pitched his company's solution to the retirement-savings problem to TIME. (Listen to TIME's Financial Toolkit: Should We Scrap the 401(k...
What's wrong with the 401(k)? The goal of a retirement system should be to help people save safely while they are working, and then to provide an amount of income in retirement that they can't outlive and that is sufficient to their needs. The 401(k) doesn't do that. It was never meant to be the nation's primary retirement system...
Henry N. Beard ’67 and Douglas C. Kenney ’68, the co-authors of the “Lord of the Rings” spoof, founded the National Lampoon in 1970 along with Robert K. Hoffman ’70, who at the time was a senior at the College...
When asked what prompted the Lampoon staff to break their 40-year parody-free streak with “Nightlight,” Matthew K. Grzecki ’10, cited their appreciation of Meyer’s original work...