Baby Boomers

The retirement-plan industry regularly extols the virtues of 401(k)s and other retirement investment programs. Yet a survey of the heads of many big employer retirement plans found that nearly 80 percent of them agreed that "the days of working until the age of 65, retiring, and then never having to work again are generally over for most workers."

My 60th birthday is less than a week and a half away, and if there is one thing I can say with certainty it’s that 60 is not the new 50.

I hope so. According to a newly-released Towers Watson survey, it looks like defined benefit pension plans are making a comeback – especially among younger workers. 

As growing numbers of baby boomers face retirement with inadequate savings, some state officials are considering a novel proposal to rebuild America’s ailing retirement system — having state pension funds run retirement plans for companies.