Congress attacks retirement security, target date funds

Members of Congress today commenced an effort to determine whether retirement legislation needs to be enacted to protect the retirement security of the country's aging population — an effort that could lead to regulation of target date funds, among other things actions.

Lawmakers and key witnesses — including Dallas Salisbury, president and CEO of the Employee Benefits Research Institute in Washington, and Deena Katz, a financial planner and associate professor at Texas Tech University in Lubbock — discussed the success of 401(k) plans in helping Americans save for retirement, among other expenses.

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