The Investopedia Express with Caleb Silver cover image

Making the Case Against the 401(k)

The Investopedia Express with Caleb Silver

CHAPTER

The Complexities of the 401(k) System

This chapter delves into the multifaceted issues surrounding the 401(k) retirement savings system, from its origins as a supplementary benefit for high-income individuals to its current role as a primary retirement savings tool for many Americans. The discussion highlights the challenges faced by individuals, especially those with lower incomes, in managing their savings and the implications of the shift from defined benefit plans to defined contribution plans. It also explores proposed solutions like the Retirement Savings for American Act (RSAA) to promote retirement savings and address income inequality in the United States.

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