James Klein
James Klein
James Lloyd Kleinwas a Canadian professional ice hockey left winger...
budget companies current environment hard plan
Companies want to be able to plan and budget for their pensions, and that's been hard in the current environment.
amongst companies moved plans principal retirement source trend
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.
caps create kinds percentage problems rigid stock
These rigid percentage caps on stock create all kinds of problems.
caps create employer imposing invest kinds percentage rigid rules stock
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.
criticize detailed discourage encourage extent loathe main perspective question raises savings until
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?
time
It is important that they keep working on it. There is still time to get it done,
congress expect fully iron pension reform security social
I fully expect that Congress will iron out the differences. With Social Security reform a bust, pension reform is a must.
gone leave legally possible prime step time
At this time it's not legally possible for him to step down as caretaker prime minister. He's gone on leave technically. But legally that's all he can do.
finds people secure survey
Survey after survey finds people are underestimating what they need for a financially secure retirement.
congress demise people plan quite robust
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.
battles charges difficult happen issues legal legitimacy number
There's going to be a lot of back and forth, charges and counter-charges. There's going to be a number of legal battles over the legitimacy of the elections. So there are just so many issues that have not been answered, it's very difficult to see what's going to happen in the future.
crisis decades deficit demand lump money paid today
What precipitated the S&L crisis (is that) depositors had the right to go into the S&L and demand their deposits back today. The (agency's) deficit would be paid out decades into the future. A retiree can't go to the (agency) and say, 'Give me my money today in a lump sum,'
legal month next series speculate willing
You have a series of legal complications that may or may not come up over the next month or so, which is why no one is willing to speculate about what is going to happen.