Before the mid-1970s most retirement programs were, Financial Management

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Before the mid-1970s most retirement programs were

Before the mid-1970s, most retirement programs were Defined-Benefit Plans. With the passage of the Employee Retirement Income Security Act of 1974 (ERISA), and the Pension Protection Act of 2006, employers transitioned to Defined-Contribution and 401(k) Plans. Why do you think that the Defined-Contribution and 401(k) Plans have become more popular than the Defined-Benefit Plans? What are the employees’ responsibilities regarding the Defined-Contribution and 401(k) Plans? Explain your answer.

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Financial Management: Before the mid-1970s most retirement programs were

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Financial Management: Before the mid-1970s most retirement programs were

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