What Should Congress Do About 401(k)s?

Thursday, January 31, 2002
2:30 p.m. – 4:30 p.m.
U.S. Capitol Building, Room HC-6
Washington, D.C.

Under the old (defined-benefit) pension system, the investment returns were good, but workers were penalized for switching jobs. Under the new (defined-contribution) system, pensions are more portable, but the returns are too low to fund adequate retirement incomes.

Why are investment returns so low in most 401(k) plans?

Who benefits and who loses from investing in 401(k)s?

How can we avoid future Enron-type debacles?

How can federal policy solve the 401(k) problem without burdensome new regulations?

AGENDA:

2:30 – 2:40 p.m.	Welcome and Introduction Greg Scandlen – Senior Fellow, National Center for Policy Analysis
2:40 – 3:10 p.m.	Why 401(k)s Are Not Always a Good Deal Laurence J. Kotlikoff – Professor of Economics, Boston University; Former Economist with the President's Council of Economic Advisors
3:10 – 3:40 p.m.	Why 401(k) Returns Are So Bad and What We Can Do About It Brooks Hamilton – President, Brooks Hamilton & Associates; Employee Benefits Consultant
3:40 – 4:10 p.m.	The Industry's Point of View Lisa McGreevy – Director of Government Affairs and Public Affairs, Financial Services Roundtable
4:10 – 4:30 p.m.	Discussion