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Retirement Savings Policy by Michael P. Barry

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Chapter 30 The Implications of the Software Revolution for Retirement Savings

Software is eating the world.

̶̶ Marc Andreessen

What happens when everything to do with your 401(k) plan is on your phone?

We aren’t technology experts, but it is pretty obvious that software is going to radically change how retirement savings systems operate, just as it will transform financial services more broadly. In this chapter, we are going to discuss, really briefly, what seem to be the likely changes in store and consider their implications for retirement savings policy.

The Current System

Consider the current 401(k) system. It requires that a separate, daily record be kept for each plan participant. And that record itself must be reconciled with the records ...

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