401(k)-s: Corroding Golden Years for Retirees?

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Many workers don-t stay with the same company long enough to qualify for so-called -defined benefit- plans any more. So 401(k)-s were devised for mobility and to give workers more freedom. The plans, which are tax deferred, also allow millions of workers to take advantage of the stock market boom. But now, after 15 years of an unprecedented boom, the air-s gone out of the bubble, and many contend that the comfortable retirement promised by 401(k)-s was a fraud. We talk to the man who invented 401(k)-s, a former Federal Reserve Board economist, investment analysts and others about what to do now.
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Warren Olney