Employer-sponsored defined contribution plans the fundamental core of retirement funds for about 80% of the full-time workers in the nation need some alterations that will help boost plan participation among the part-time workforce and smaller employers, as well as offer better ways for workers and employers to contribute, according to a white paper released last week.
Professors Jeffrey R. Brown, and Scott J. Weisbenner from the University of Illinois at Urbana-Champaign, in association with the American Council of Life Insurers, explain that long-term retirement security is a feasible goal with some tweaks to the current employer system.
