Jacob Hacker Suggests Revisions to 401(k) Plans

NewsHour with Jim Lehrer, Nov. 20, 2008 by Jeffrey Brown
http://www.pbs.org/newshour/bb/business/july-dec08/retirement_11-20.html

“I think that would involve making sure that those plans were available more broadly … that these plans also provide some of the risk protections that were once provided by traditional defined-benefit plans, such as providing people with a promise of a relatively guaranteed benefit, providing them with a benefit that would allow them to avoid the risk of outliving their assets in retirement, and also protecting them against gross kinds of errors, like over-investing in the stock of your company or in a very badly diversified portfolio.”