What, then, will be the key components of the 401(k) MEP model?Which players will dominate? Which service providers will multiply?Which may find less interest in their services? (Photo:Shutterstock)
Here's the way I see it: In 10 years, private-sector open401(k) multiple employer plans (MEPs) will be the norm. Stand-alone 401(k)plans will be few and far between. Like pension plans today, onlythe oldest and largest companies with have them. And they'll betrying to figure how to get rid of all the bells and whistles theyadded to them.
State-run retirement plans? By 2030, after a series of statebankruptcies and scandal, the few that remain will have all thecredibility of a MyRA. The good news, though, is that the (blue)states that still have them will have begun to use them to replacetheir public employee pensions. (They'll rationalize this shift asa way to make state-run retirement plans "sustainable.")
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