Los Angeles, CA Tuesday, May 22, 2012 ???Americans and Retirement: Finding Strength in the 401(k) System," will be discussed by Paul Schott Stevens, President and Chief Executive Officer, Investment Company Institute (ICI) at Town Hall Los Angeles on Thursday, June 7, 2012, at the Millennium Biltmore Hotel in downtown Los Angeles. Angelenos will have an opportunity during Town Hall???s audience Q&A to pose questions on this topic directly affecting them.
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???There???s a common misperception that the fading of traditional pensions in the private sector has meant rapidly diminishing retirement income for workers. But in this case, the conventional wisdom is wrong, said Stevens. ???In fact, retirement income generated by private-sector retirement plans, including traditional pensions and 401(k)s???has become more prevalent???not less so. Today, more retirees receive more income from private-sector plans than in the 1970s.???
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Stevens will elaborate on the performance of 401(k) plans, workers' retirement prospects, and how upcoming tax debates could affect America's retirement security. ???The 401(k) system combines tax incentives with education and sound investment principles to help Americans build a nest egg for retirement paycheck by paycheck, Stevens said. ???The great majority of US households believe, even in an era of necessary federal budget reforms, that preserving these incentives should be a national priority.???
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Serving in his current position since 2004, Stevens is also director of ICI Mutual Insurance Co., and was previously ICI's general counsel. Stevens was a leader of the financial services practice of Dechert LLP and general counsel for mutual funds and international enterprise at Charles Schwab & Co., Inc.
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Established in 1940, ICI???s mission is to encourage adherence to high ethical standards by all industry participants, advance the interests of funds, their shareholders, directors, and investment advisers, and promote public understanding of mutual funds and other investment companies.
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All accredited members of the media are invited to cover this event.?? RSVPs required to Deborah Weinberg at 213.312.9307 or [email protected].
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