James Klein Quotations

Companies want to be able to plan and budget for their pensions, and that's been hard in the current environment.

More and more companies are discovering that defined-benefit plans are not well-suited to their business realities, their future and the nature of their work force management. We've had a lot of companies terminating for quite some time, and freezing activity has gathered steam as well.

This is just a continuation of a trend amongst many companies that have moved away from defined-benefit plans as a principal source of retirement income.

I fully expect that Congress will iron out the differences. With Social Security reform a bust, pension reform is a must.

From our perspective, all savings is good, and I'm loathe to criticize it until we see detailed plans. But the main question it raises is to what extent does this encourage or discourage long-term savings?

I don't think that many people in Congress would be quite so indifferent to the demise of the defined-benefit plan if they didn't have such a robust plan themselves.

It is important that they keep working on it. There is still time to get it done,

These rigid percentage caps on stock create all kinds of problems. You're discouraging employer matching, and you're imposing rules on how individuals should invest their money.

These rigid percentage caps on stock create all kinds of problems.

Survey after survey finds people are underestimating what they need for a financially secure retirement.