DEFINED-CONTRIBUTION PLANS

WHEREAS, defined-contribution retirement plans are steadily increasing in popularity with public and private sector employers alike; and

WHEREAS, defined-contribution retirement plans are especially threatening to employees forced to make their own investment decisions; and

WHEREAS, poorly crafted investment decisions can have devastating impact on retirement income; and

WHEREAS, many employees have never developed the necessary skills required to become successful pension investors in today's market:

RESOLVED, that the AFT oppose the forced unilateral implementation of defined-contribution plans; and

RESOLVED, that where such defined-contribution plans do exist, the American Federation of Teachers develop and implement a training program designed to assist its defined-contribution retirement plan participants in properly managing their retirement investments.