Defined contribution plans such as 401(k) plans have become the principal retirement offerings of most employers in recent decades, supplanting traditional defined benefit plans. Owners of 401(k) plans have seen these risks materialize in real time. Those statistics illustrate the perils of making poor investment choices for one’s 401(k) plan. The most direct attack has come from ForUsAll, a Silicon Valley-based administrator of 401(k) plans for small businesses with a relatively modest $1.7 billion in assets under management. The firm offers 401(k) plans through which employers can allow their employees to invest limited sums in cryptocurrencies.

Source: Los Angeles Times November 23, 2022 20:53 UTC