Millions of Americans lost their retirement savings in the recent financial crisis due to the current system’s susceptibility to market volatility, with 401(k) accounts proving particularly vulnerable. On November 10, I joined with Demos, the Economic Policy Institute (EPI), and the Pension Rights center to release a research report that documents the failure of these 401(k)-type accounts to provide secure and equitable retirement—and make recommendations to create a truly reliable system.
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