Summary of The Retirement Plan Solution

The Reinvention of Defined Contribution (Wiley Finance)

Wiley, more...

Buy the book

The Retirement Plan Solution book summary
As pension plans change, you must know how to accumulate before you decumulate or you’ll decimate your retirement.

Rating

7 Overall

9 Applicability

7 Innovation

7 Style

Recommendation

Many American companies have eliminated, or are now eliminating, their defined benefit (DB) pension plans. They are substituting defined contribution (DC) plans, under which employees are primarily responsible for their own retirement savings. Since this is the new lay of the land, you need to know how to assess your DC plan. Focusing on the primary traits of one type of DC plan – U.S. 401(k) pension savings accounts – experts Don Ezra, Bob Collie and Matthew X. Smith explain the latest version-two (or “DC 2.0”) plans. getAbstract recommends this book to human resources (HR) and benefits professionals, retirement plan sponsors and consultants, financial planners, policy makers and all those who hope to retire one day with money from a defined contribution plan. While the book concentrates primarily on U.S. retirement plans, HR professionals from other nations still will find useful retirement planning information here.

In this summary, you will learn

  • Why defined contribution pension plans are replacing defined benefit plans
  • How to make the most of your retirement savings plan
  • What your company can do to improve its defined contribution plan
 

Summary

The Evolution of Retirement
People did not always expect to retire and spend their senior years at leisure. Indeed, it was not until 1889 that German Chancellor Otto von Bismarck introduced a retirement program for his nation’s workers. One of the first such plans in history, it promised...
Get the key points from this book in less than 10 minutes. Learn more about our products or log in

About the Authors

Award-winning author Don Ezra is an investment strategy director for Russell Investments, where Bob Collie is an expert on U.S. and U.K. pension plans. Matthew X. Smith has written about and helped design, implement and administer contribution plans for more than 25 years.


Comment on this summary

More on this topic

Contained in Knowledge Pack:

Customers who read this summary also read

More by category