Chapter

Regulating Markets for Retirement Payouts: Solvency, Supervision, and Credibility

Phyllis C. Borzi and Martha Priddy Patterson

in Recalibrating Retirement Spending and Saving

Published in print September 2008 | ISBN: 9780199549108
Published online January 2009 | e-ISBN: 9780191720734 | DOI: http://dx.doi.org/10.1093/acprof:oso/9780199549108.003.0008
Regulating Markets for Retirement Payouts: Solvency, Supervision, and Credibility

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Soon the largest cohort of workers in history will be eligible to retire: and most will have only their personal saving and a lump-sum benefit from a 401(k) plan to supplement Social Security benefits during retirement. The proceeds of these 401(k) and IRA benefits represent the largest amount of money these individuals have ever managed, and the challenges and hazards they face are enormous. This chapter evaluates the regulatory and enforcement structures in place to protect individuals from financial loss through the insolvency, fiscal mismanagement, and/or malfeasance of those who help them manage and invest their retirement distributions.

Keywords: accumulated assets; retiree; longevity; inflation; risk; fraud; nest egg; 401(k) plan; defined benefit; defined contribution

Chapter.  15247 words. 

Subjects: Pensions

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