THE NEW HOLISTIC RETIREMENT • 39 wb uotui lt dwcaosnut pr i bt ou tt he eme omnpe lyo yt oe ea tno egmr opwl otyheaet’ smqounael yi f iaendd amc caonuang te, it so they’d have enough income to last a lifetime. We transitioned from a system of defined benefits (where ad ecfoi nmepda cnoynpt rr iobvui dt ieodn sy o( uw ah es reet ian cc oo mm ep aanmy opurnotv) i dt oe da ys oy sut ea ms eot f amount to save each year). It was a HUGE change. And it caught on. By 2017, only 13 percent of private- se emc pt ol or y eeems p lsot yi l el e so f t he na d h aa v ep e pn es inosni o. ²n³ s , Wmhai lne y pguobvl iecr-ns me cet onrt punendseirofnusndaetd.²th⁴ e municipal, state, and federal levels are Employers may have abandoned long game income for tnheeeidr fwo ro rskt ae br sl e, , bl uo tn gt-ht oe rsme wr eotri rkeemr se nhta vi necno’ tmaeb. aSnodnoonwe d t ht he ye had to find a different way to get it. Witness the birth of the annuity. New Approach to Long-Game Income Ma nuncuha ll i ki ne cpoemn sei otnhse, ya nc na nu i’ tt i eosu ot lfifveer. aEws saeynftoi ar l sl ya,v eyrosut og iavcec easns at hnenyu gi tuya cr ao nmt ep ea na ys eat pi nocrot imo ne yoof uy’ lol ur re cseai vv ien igns ,r ea tni rde, mi ne nr et teuarcnh, year—no matter how long you live. ²³ Kathleen Elkins. CNBC. J une 9, 2022 . “A Brief History of the 401(k), Which Ch ihsat no rgye-do Hf - tohwe -A4m0 1ekr i-cwahnisc hR-ecthi raen, ”g ehdt t-phso: w/ /-wa mwewr .iccnabncs.-croemt i r/e2. h0 t1m7 /l 0 1 / 0 4 / a - b r i e f - ²⁴ Federal Reserve . June 9 , 202 1 . “ State and Local Government Pension Funding Status: 2002-2019 ” https://www.federalreserve.gov/releases/z1/dataviz/ pension/funding_status/chart /
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