The USA Retirement Funds Act Is Good Legislation
Three reasons why.
Seconding the Motion
Last week, I summarized Sen. Tom Harkin's proposal for revamping the 401(k) system. At the time, I did not pass judgment other than to note that it was a big, ambitious idea and that it had provisions worthy of further discussion. Upon further thought, however, I will take the next step and endorse the legislation. The plan fits with the U.S. approach to retirement planning (reason number one), and it addresses two problems that stem from such an approach (reasons number two and number three).
(Although I don't mind the page hits, you needn't read Monday's column if you missed it. You'll get the flavor of the proposal from this article.)