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Why we need a new type of 401(k) Many Americans are facing bleak retirement prospects as a result of the current do-it-yourself retirement system, writes an expert on MarketWatch. To address this problem, the federal government should revamp the system by providing a guaranteed retirement account to workers, the expert says. "The Guaranteed Retirement Plan would redesign the American retirement system by pooling investments, lowering fees, reducing risk and — best of all — raising returns on the $14.2 trillion in 401(k)s and IRA assets," the author writes.
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