Defined Contribution

The problem? The state legislature adopted a switch for new state employee to a 'cash balance' plan without an adequate number of votes.

Automatic enrollment appears to be driving the participation growth.

Moodys has downgraded a number of states for various practices, such as taking pension holidays and deliberately ignoring required contributions.

Participants in defined benefit pension plans have a pretty good idea what their benefit will be when they retire. Not so for participants in defined contribution plans.

Advisors are from Mars, investors are from Venus. Whos the universal translator?

The DOL believes participants may have difficulty envisioning the lifetime monthly income that can be generated from an account balance.