Waubonsee Community College

Social insecurity, 401(k)s and the retirement crisis, James W. Russell

eng

Includes bibliographical references (pages 184-195) and index

index present

non fiction

Social insecurity

bibliography

863127648

James W. Russell

401(k)s and the retirement crisis

Each generation of workers since the nineteenth century has had more retirement security than the previous generation. That is, until 1981, when shaky 401(k) plans began replacing traditional pensions. Now, tens of millions of Americans are discovering that they would have been better off under traditional pension plans long since replaced. Russell tells the story of a massive and international retirement robbery-- a substantial transfer of wealth from everyday workers to Wall Street financiers via tremendously costly hidden fees

Before the swindle -- A fix for what wasn't broken -- Army tanks and think tanks -- Targeting social security and public worker pensions -- How 401(k)s are supposed to work and why they don't -- A model unravels -- Turmoil in the land of steady habits -- What we can do