The Washington Post, August 4th, 2003
The basic rules of retirement policy are simple. Save early to allow the power of compound interest to ease your burden. Diversify your investments to reduce your risk. Make steady payments designed to reach your long-term goal. These rules for individuals also make sense for corporations that bear the burden of providing defined- benefit pensions. Unfortunately, the government's archaic pension rules prevent companies from following this logic -- especially the common-sense idea of steady payments. During boom times, when profits are high, government rules discourage plan contributions in two...
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