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Single Biggest Vehicle for Increasing Retirement Savings

MFS chairman emeritus and author Bob Pozen discusses the merits of the automatic IRA and automatic opt-in.

Hughes: One of the things that's very important to mutual fund investors is retirement planning, and your book does also talk about retirement planning. Can you talk about the state of retirement planning today and what you see for the future?

Pozen: Well I think the good news is we have a lot more people involved with 401(k)s and defined contribution plans. I think it was pretty much the rule 10 years ago, but now definitely the rule is, there are no more define benefit plans coming into existence, so people are going to have to learn to live with 401(k)s.