What All Good Retirement Plans Have in Common

Workers sacrifice income now for a comfortable future.

Not everyone his age wants to be doing this.

Photographer: J.D. Pooley/Getty Images

Old style defined-benefit pensions get better investment returns than defined-contribution retirement plans such as 401(k)s. That’s been established in survey after survey. I cited it as fact in a column about state and local government pensions last week.

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