I am an extraordinary fan of defined benefit plans, but the world has in fact dramatically changed. If the offset is that companies start aggressively encouraging people to save and provide financial literacy education, that may be a very positive silver lining.
More Quotes from Dallas Salisbury:
The magnitude for trying to create an administrative system and make it functional for 140 million people (in Social Security) could be done, but it will take years. The federal thrift program is having problems and that's a lot fewer people.Dallas Salisbury
The American public needs help from the employers, help from the government to save. They're very concerned about not being told the truth about Medicare and Social Security. They're ready to deal with that truth.
Dallas Salisbury
The PBGC report misses much of what has been happening among defined benefit plans.
Dallas Salisbury
Very little is likely to happen in 2006 because Congress and the White House are already focused on elections.
Dallas Salisbury
Workers should think about it very carefully and go through a very clear evaluation.
Dallas Salisbury
What's interesting to note is how differently individuals in these plans choose to allocate their assets. The actual numbers end up fitting with what most advisers say people should be doing.
Dallas Salisbury
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