Count on NCPERS for information, knowledge, education, and powerful advocacy to protect the financial security of the retirees who depend on you.
401(k) Accounts Are Not Retirement Plans
May 19, 2010
Congress created 401(k) accounts in 1978 as a way to close a loophole on executive bonuses. They were never intended as a replacement for traditional defined benefit pension plans--but today that is how they are often perceived, and as a result, many American workers will never have sufficient funds to retire as they would with a traditional or defined benefit retirement plan. Download the pdf.