Defined Contribution

Generation Y learned a lot about finances during the Great Recession and took more positive financial action since 2008 than any other generation.

The complaint against the bank alleged Flagstar breached its fiduciary duty by allowing its 401(k) plan to invest in its own Flagstar common stock at a time when bank executives knew such an investment was imprudent.

While the average 401(k) balance can, over time, provide a sense of the direction in which things are moving, it tells you very little about the adequacy of the overall average savings to fund an individual retirement.

If were going to measure retirement readiness, lets do it right.

EPIs Retirement Inequality Chartbook offers dozens of charts that look at retirement preparedness and outcomes by income, race and ethnicity, education, gender and marital status. Its conclusion? The 401(k) revolution created a few big winners and many losers.

Australia, Canada and the Netherlands have all tackled their retirement savings problems through a combination of social security and employer-sponsored retirement systems.