Can 401(k) Plans Be Improved?

Albert Gea / Reuters 401(k) plans—the primary retirement vehicle for most Americans—sets people up for financial failure. It’s not just that Americans often don’t save enough, but that they use the money that they’ve saved too early, leaving them with little for retirement. This is a problem particularly for lower-income workers who might dip into those accounts early out of need, and, as a result, exacerbate already-bad inequality, according to a recent study from National Conference on Public Employee Retirement Systems (NCPERS).

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