A new proposal from the Retirement Security Innovation Initiative (referred to in the article as the Corporate Pension Revitalization Council) aims to strengthen private-sector retirement security by combining the strengths of defined benefit pensions and individual savings plans. The model integrates a professionally managed lifetime income benefit with a flexible personal savings account, using smart defaults and shared risk to improve outcomes. Designed to offer fixed costs for employers and flexible security for workers, the initiative is now seeking stakeholder input and legislative support to help bring this next-generation retirement framework to life.

Read the article

This article is protected by copyright and other applicable laws. No part of it may be reproduced, distributed, modified, displayed, or transmitted in any form or by any means without the prior written permission of the American Retirement Association. Unauthorized use is strictly prohibited.