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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: yard_man who wrote (8746)2/26/2004 6:41:10 PM
From: CalculatedRisk  Read Replies (1) of 110194
 
I probably wasn't clear <g> ...

I would rather have a 401(k) plan. I know a little bit about investing (hopefully), but most people are novices.

I used to be the trustee for my company's retirement plan (first a defined benefit plan and then we transitioned to 401(k)). Two things really bothered me about the 401(k):

1) Those people that will need the money the most, put the least (or nothing) into the 401(k). This was true, even though we had a very generous company match!

2) If the market went up for a couple of quarters, everyone moved their money into aggressive growth funds. If the market went down, they moved to money markets (too many people tried to time the market, and they did it in reverse).

For most people, I think a defined benefit plan is better, because IMHO they are going to screw up their self- directed plan. BTW, pension are essentially backed by the government (Pension Benefit Guaranty Corporation).
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