As traditional pensions disappear, U.S. employers must offer matching contributions and do more to entice workers to set aside retirement money, Edward Moslander of TIAA-CREF said at a Senate hearing on retirement savings. Others testifying said many businesses do not offer 401(k) plans because of the time required to administer them, and they suggested that Congress simplify regulations or offer tax incentives to businesses that provide the plans.

Related Summaries