Is the 401(k) System Failing Retirement Plans? 🏦

 The first generation to be fully reliant on 401(k) plans is now starting to retire. As that happens, it is becoming clear just how broken the system is.


Michael Steinberger, a contributing writer for The New York Times Magazine, explains.


Guest: Michael Steinberger, a contributing writer for The New York Times Magazine who writes periodically about the economy and the markets.


Background reading: 

• How an obscure, 45-year-old tax change transformed retirement (https://www.nytimes.com/2024/05/08/magazine/401k-retirement-crisis.html) .
• What to do when your 401(k) leaves something to be desired (https://www.nytimes.com/2024/04/19/business/401k-fees-retirement.html) .

For more information on today’s episode, visit nytimes.com/thedaily (http://nytimes.com/thedaily?smid=pc-thedaily) . Transcripts of each episode will be made available by the next workday.






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