Tag: 2001 Economic Growth and Tax Relief Reconciliation Act

A glass jar full of coins and plant growing through it with some coins and plant leaves.

Changing 401(k) Defaults on Cashing Out: Another Step in the Right Direction

Issue Brief by and

September 1, 2004

Introduction Over the last 20 years, pension coverage has shifted from defined benefit plans, where benefits are based on years of service and final salary and generally paid as an annuity, to 401(k) plans, where individual and employer contributions and earnings on those contributions are awarded as a lump sum at retirement. Although the majority…