Why Switching Public Employees to a 401(k) is a Terrible Idea

Reform has been the hot topic in the world of public employee retirement plans for years. Too often the conversation immediately turns to tossing out defined benefit pensions for government workers and replacing them with individual investment accounts like 401(k)s. Supporters of the 401(k) approach say these plans are a better fit for the modern worker; they are always fully funded; they give workers control over their own money; the public sector should follow the private sector's lead in eliminating pension plans. However, this thinking does not consider the uniqueness of public sector jobs, workers' lack of understanding of financial products, the impact on workers' retirement security, or the effect on the employer and taxpayers.

Tagged Defending Pensions, Defined Benefit, 401(k), Credit, Crisis, Defined Contribution, National Institute on Retirement Security, Value of pensions, Retirement, Retire

3 Things You Need to Know About Changing Your Retirement Plan to LAGERS.

At times, when employers are considering joining the LAGERS system, they are choosing to switch from their standalone defined contribution plan to a defined benefit plan with LAGERS. These employers are making the choice to give their employees the ability to earn and receive secure monthly income from LAGERS when they retire. As well, they are setting a plan in place designed to recruit and retain quality workers while providing dedicated employees a path to retirement security. When employers are thinking about making the switch, there are few things they need to know.

Tagged Defined Benefit, joining LAGERS, Defined Contribution, Prospective Members, Retirement Security

The Webster Groves Experience

LAGERS loves storytelling.

Tagged Defined Benefit, Defined Contribution, Employers, Members, Prospective Members, Retirement, Retirement Security

Response to Forbes Opinion: 401(k)s Are Not the Solution

Tagged Defending Pensions, Defined Benefit, 401(k), Defined Contribution, Employers, Members, Prospective Members, Retirees, Savings

Then vs. Now: How the Retirement Landscape Has Changed

Tagged Defined Benefit, Defined Contribution, Employers, Members, Retirees, Retirement, SSA

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