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...wrong with the way we save. The tax-deferred 401(k) plan, and others like it, such as the 403(b) and the IRA, have become our nation's go-to retirement piggy bank. Invented nearly 30 years ago as an executive perk - one more way to dodge Uncle Sam - the 401(k) was never meant to replace the employer-guaranteed pension fund, supplemented by Social Security, as the cornerstone of our nation's retirement system. But propelled by a combination of companies looking to cut costs and consumers who wanted control of their retirement destiny, that's exactly what...

Author: /time Magazine | Title: Why It's Time to Retire the 401(k) | 10/9/2009 | See Source »

...those plans. Even for people who don't have enough money to send their kids to college or buy a home, building their 401(k), they are told, is their first priority. It's not terrible advice. The accounts grow tax-free, though you have to pay Uncle Sam's levy when you cash out. Unlike health coverage, you don't lose your 401(k) when you lose your job. And once you set the account up - a minor task at most companies - it's automatic, making it an easy, thought-free way to save. Indeed, Americans have more saved...

Author: /time Magazine | Title: Why It's Time to Retire the 401(k) | 10/9/2009 | See Source »

City Councilor Sam Yoon, Flaherty’s running mate, had also championed such reforms in his own campaign until losing in the preliminary elections last month...

Author: By Michelle L. Quach and Peter F. Zhu, CRIMSON STAFF WRITERS | Title: Menino Faces Call For Reform | 10/9/2009 | See Source »

...Agency (IAEA) fear that Iran is on the verge of bolting the global Nuclear Non-Proliferation Treaty and developing not just nuclear energy but a nuclear weapon, a charge Tehran denies. Venezuela's ties to the Islamic Republic, as a result, have taken on dimensions beyond just tweaking Uncle Sam's nose. (See the 10 worst-dressed world leaders...

Author: /time Magazine | Title: Chávez to Iran: How About Some Uranium? | 10/8/2009 | See Source »

...there anyone in the music business you have never played with whom you'd want to? Elvis and Sinatra and Sam Cooke. Otherwise, I did pretty well...

Author: /time Magazine | Title: Letterman Bandleader Paul Shaffer | 10/7/2009 | See Source »

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