Retirement Security Funds
Retirement Security Funds*
Karen Ferguson, Director
Pension Rights Center
Retirement Security Funds would provide a new private retirement plan structure to supplement Social Security. They would incorporate a novel approach to risk-sharing, a unique benefit formula, and other features to increase retirement security.
Retirement Security Funds are proposed as alternative arrangements within a voluntary system. They are designed to appeal to employers interested in contributing to their employees’ retirement security, and to employees and unions interested in simple, fair, and efficient pension plans.
Retirement Security Funds are:
- licensed single-purpose retirement institutions
- that provide for risk-sharing by participants, and
- incorporate a “reverse-match” benefit formula.
Retirement Security Funds also provide pooled, professional investment; money locked in until retirement; and lifetime payouts to retirees and spouses.
*For a more detailed description of Retirement Security Funds, click here.
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Did You Know?
A 401(k) plan is a retirement savings plan in which the benefit is based on contributions to an individual account and the investment return on those contributions. Typically, employees make contributions to the plan and, in many cases, employers match the employees' contributions. These plans are called defined contribution plans. In most 401(k) and other retirement savings plans, the employee is responsible for choosing among the investments offered by the plan. Other types of retirement savings plans are 403(b) and 457 plans.