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Employers Begin Driving Your 401(k)

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THE NANNY BOSSES
"Businesses are taking more control of workers' 401(k)s, retreating from the 30-year experiment with employees running their own accounts," according to the Wall Street Journal. "The greater employer control is a philosophical shift in 401(k)s and other defined-contribution plans, which held $3.5 trillion at the end of last year," the article says. "The new, more-paternalistic approach, with employers making most of the decisions, resembles a defined-benefit pension plan. But unlike a pension plan, individuals bear all the investment risk."

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