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Rating:TIAA-CREF Chief Urges 401k Participants to Educate Themselves. Not Rated 5.0 Email Routing List Email & Route  Print Print
Friday, July 02, 2010

TIAA-CREF Chief Urges 401k Participants to Educate Themselves.

News summary by MFWire's editors

Plan particpants are not saving enough and need to educate themselves on their retirment options, according to Roger W. Ferguson Jr., president and CEO of TIAA-CREF.

In an interview with the AP, Ferguson said plan particpants have now realized that 401(k) was never meant to be anything other than a supplemental retirement system and that the government should make it easier for people to save and give them guidance on how much they should save in the form of automatic enrollment.

Fergsuon also said there are some annuities that aren't transparent but are very complex and suggested participants to look at cheaper and friendlier annuities. 

Edited by: Hung Tran

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