The agency can sue companies if they miss more than $1 million in payments to their defined-benefit plans.
Traditionally, this has meant so-called defined-benefit plans, where investment decisions are made by the employer.
If Congress makes it mandatory, employers might just decide to scrap defined-benefit plans.
Maybe you belong to a defined-benefit plan at work and assume a comfortable retirement is already assured.
"It was obvious that a defined-benefit plan would be easier to administer."
Under a defined-benefit plan, you don't waste that money.
Setting up a defined-benefit plan requires the assistance of both an attorney and an actuary.
Certainly, 401(k)s and traditional defined-benefit plans have much in common because both are long-range investments.
In the mid-1980's, 40 percent of workers were covered by defined-benefit plans.
In a defined-benefit plan, companies promise to pay a fixed amount of money to workers when they retire.