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Introduction The private pension landscape has changed dramatically over the past quarter century, with a decisive shift away from traditional defined benefit plans toward defined contribution plans, primarily 401(k)s. Under the typical 401(k), individuals are responsible for making their own retirement saving decisions. The first, and most important, decision is whether to participate in t…
Introduction The Center for Retirement Research at Boston College is undertaking a multi-year in-depth study of state and local pension plans; the study is funded by the Center for State and Local Government Excellence. As a prelude to subsequent reports on various aspects of state and local plans, this brief identifies the key differences between…
