Jump to ContentJump to Main Navigation
The Origins of the Ownership SocietyHow the Defined Contribution Paradigm Changed America$
Users without a subscription are not able to see the full content.

Edward A. Zelinsky

Print publication date: 2008

Print ISBN-13: 9780195339352

Published to Oxford Scholarship Online: January 2009

DOI: 10.1093/acprof:oso/9780195339352.001.0001

Show Summary Details
Page of

PRINTED FROM OXFORD SCHOLARSHIP ONLINE (www.oxfordscholarship.com). (c) Copyright Oxford University Press, 2019. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 21 October 2019

What Should We Do?

What Should We Do?

Chapter:
(p.147) CHAPTER SEVEN What Should We Do?
Source:
The Origins of the Ownership Society
Author(s):

Edward A. Zelinsky

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780195339352.003.0007

This chapter explores our choices for molding the defined contribution paradigm as it evolves and identifies which of those choices are best. The first and most important imperative for the future is to do no harm. Second, we should amend Section 401(k) to require employees to opt out of 401(k) participation. We should also restore fiscal balance to the Social Security system to reduce that system's projected benefit payments. Pushing back the early and normal retirement ages at which individuals may collect social security benefits seems more politically palatable than is an economically equivalent reduction of annual payments commencing earlier. Fourth, the coverage of the Section 25B savers' credit should be expanded to subsidize, not just retirement contributions, but to reward contributions to HSAs, educational savings accounts, and Section 529 programs if the taxpayer prefers any of these instead. Finally, the ten percent (10%) limit on employer stock should apply to all defined contribution plans.

Keywords:   retirement, savings, regulation, individual ownership, control, tax expenditure, 401(k), default rule, employer stock, savers' tax credit

Oxford Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs , and if you can't find the answer there, please contact us .