Preparing for Retirement in an Uncertain World
Tuesday, April 06, 2010
by Liqun Liu, Andrew J. Rettenmaier and Thomas R. Saving
In previous generations, many workers could expect to automatically receive a steady stream of retirement income from Social Security and a pension from their union or employer. Like Social Security, traditional defined benefit pension plans promised a monthly annuity for life. Along with personal savings, pensions and Social Security were the mainstays of retirement. Increasingly, however, American workers must make their own retirement investment decisions.