Word: whether
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...defenders say bad markets don't make the accounts a bad idea - and that it's still too soon to tell whether they work. Many companies adopted them less than 20 years ago. Even then, most firms (including mine) still provided pension plans to their workers. So boomers retiring now were never focused on piling money into 401(k)s. In order for the plans to succeed, workers have to stash savings regularly for about 30 years. Most accounts haven't been around that long...
...Here's why: Remember, the biggest factor in whether the 401(k) works as designed has to do with when you retire. If the market rises that year, you're fine. If you retired last year, you're toast. And the chances of your becoming a victim of this huge flaw in the 401(k) plan are pretty high. The market fell in four of the nine years since the beginning of the decade. That means anyone retiring this decade had a nearly 50% chance of leaving work in a down market. In fact, your chances of retiring into...
...idea - not to mention anger and disappointment among retirees who can't really retire. Recent opinion polls show that people would be willing to give up the flexibility of a 401(k) for a guaranteed return. What's more, the fact that ERIC supports a guaranteed plan is encouraging. "Whether the 401(k) is a perfect plan or even the right plan is something that is being questioned in Congress," says Democratic Representative George Miller of California, chairman of the House Education and Labor Committee. "When you have seen the market's ability to create bubbles...
...Crimson football has lived up to its standing as the preseason favorite in the Ivy League. On a two-game win streak, Harvard is proving its offensive prowess and defensive coordination. But the real test will come tomorrow, when the Crimson will reveal whether or not they will be the leaders of the Ivy League...
Sanz, however, insists that Iranian experts have concluded Venezuela "has a lot of uranium." If so, the other big question is whether Venezuela itself will really pursue a nuclear-energy program. Like oil-rich Iran, it's hardly in urgent need of nuclear power: Venezuela has the western hemisphere's largest crude reserves, and 75% of its electricity is hydro-generated. It abandoned its one test nuclear reactor 15 years ago. Still, Chávez says the country needs alternatives, and has struck a deal to receive nuclear-fuel-technology aid from Russia, Venezuela's top arms supplier...