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.
Looking for help with your retirement plan?
If you have a problem with your retirement plan, free help may be available from the U.S. Administration on Aging's network of Pension Counseling and Information Projects. Find help now.
PensionHelp America connects people who need help with their pension, 401(k), and other retirement plans with the pension counseling projects, legal services providers, and government agencies that can help answer their questions. Visit www.pensionhelp.org.
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Retirement USA is a national initiative that is working for a new retirement system that, along with Social Security, will provide universal, secure, and adequate income for future retirees. Visit the website.
Did You Know?
A joint-and-survivor annuity is an annuity that pays a monthly benefit over the lives of the participant and his or her surviving spouse. This is the default form of benefit for married participants in most defined benefit pension plans. Because it lasts for the life of both the worker and the spouse, a joint-and-survivor annuity typically results in a lower monthly benefit payment than a single-life annuity.