Final Winning Papers Available
Congratulations to Ken C. Beckman, Rowland M. Davis, Donald E. Fuerst and Thomas J. Walker.
A total of 18 papers were submitted in response to the Retirement 20/20 call for models to consider ways to reform the retirement system. Most designs were similar to a defined-contribution plan, in that the individual and employer make a contribution into an account each year. But the similarities ended there.
Common themes running through the papers include:
- Focusing retirement accumulations on income provided
- Some designs require or default individuals to take a portion of their benefit as income.
- Preselecting investment mixes
- Building some variability into retirement income.
- Changing the role of the employer.
- More standardization within the system.
- A two-layer system.
- The cost of the plan would be borne by employers and employees.
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