Jack VanDerhei Quotations

It's kind of like watching a glacier move.

The trend from defined-benefit to defined-contribution plans has not come because employees have wanted to take on that risk. It's because employers have wanted to get rid of that risk.

The system is set up ... not to help the consumers. It's there to help the regulators.

It's clear that people currently working should factor into their retirement planning the long-term trend away from traditional defined benefit pensions. That means people need to be saving more than they are.

People typically take a cue from their parents' generation ? which had pension plans and retiree health programs. And they know they're making more money than their parents did.

The major problem you're going to have is that you're not going to have anything current enough to do anything about. You really are in a no-win situation.

Those people frozen into inactivity ... they just need someone to get them started. If you haven't started and won't start because you don't have the financial acumen to do so, pay somebody a couple of hundred bucks to get you on track.

We find there are a lot of people who need to be saving more than they are, if they hope to be able to afford a comfortable retirement.

A lot of today's workers look at today's retirees and say, 'They seem to be in good shape, and I'm making more than Mom and Dad were making, so I should be in good shape, too,'? What they're totally failing to realize is that the generation of people retired today by and large had benefit plans and retiree health plans that are being increasingly cut back today.

I would say that a huge percentage of them who don't already have automatic enrollment would adopt it overnight.