Wednesday, June 7, 2017

Houston Chronicle Publishes Op-ed on the Risk in 401(k)s

Conservatives' 401(k) push is big risk for public-sector employees

By Max Patterson


It used to be that being "conservative" meant being cautious about untested change, preferring tinkering instead of complete overhaul to institutions that developed over time to serve particular public needs.

If the current Texas Legislative session is any guide, that definition no longer applies to self-identified "conservatives" who seek to dismantle traditional retirement plans for police, firefighters and municipal employees. Their push toward 401(k) style plans is a radical approach with unproven benefit.