TY - JOUR T1 - Wake Up and Smell the Coffee! DC Plans Aren't Working JF - The Journal of Investing SP - 81 LP - 99 DO - 10.3905/joi.2007.698967 VL - 16 IS - 4 AU - M. Barton Waring AU - Laurence B. Siegel Y1 - 2007/11/30 UR - https://pm-research.com/content/16/4/81.abstract N2 - Defined-contribution plans are not meeting the goal of enabling employees to save enough to retire. Improving them involves a savings component, an investment component, and a payout component. To encourage savings, employers can use behavioral strategies such as a high default savings rate and auto-escalation. The investment component should center on pre-mixed asset allocation funds built of index funds and carefully selected active funds. Payout options should include annuities, which enable the employee to convert savings to a guaranteed lifetime income as in a defined benefit plan.TOPICS: Retirement, in wealth management, mutual funds/passive investing/indexing ER -