Under a new president, Congress should build on its prior work and make 401(k) and other defined contribution plans more like real pensions.
Allowing longer periods of time to calculate and amortize liabilities would make it easier for a company to keep its pension plan in place.
Plan sponsors and advisers now have the ability to make the DC system work better for participants and retirees. It's time they do so.
Investors must raise their level of scrutiny in due diligence. As fiduciaries, they must receive answers to their questions.
States should take advantage of pooling to create safer and sounder retirement systems for all workers and to alleviate the liability pressures of defined benefit plans.
What should the PBGC do? Hint: move with reasonable alacrity, recognizing that this is a historic opportunity to put the institution on a strong path for future returns over coming decades.