Capital Gains and Games is about to enter a new and very exciting chapter in its history. After close to five years of being a collaborative effort between a group of friends and colleagues, CG&G is going solo.
Andrew, Pete, Bruce and Gordon will be leaving CG&G on January 1. As the potentially watershed 2013 federal budget debate gets underway I will be the principal writer and managing editor and what you read and comment on about "Washington, Wall Street, and Everything In Between" will be mine and mine alone.
The main reason for the change is that blogging has changed considerably since CG&G began. Although the group blog concept still works in some places, it's become increasingly clear to methat readers prefer a blog with a single personality and viewpoint. CG&G had to change to provide that.
I made a brief radio appearance on Marketplace Money yesterday, in a story with the same title as the post, asking which type of retirement plan is better. The segment was motivated, I think, by this article last month in The Wall Street Journal decrying the inadequacy of 401(k) plan balances for near-retirees.The answer is that there need not be any important difference. If I were tasked by a plan sponsor to provide an adequate retirement income for plan participants and to keep the plan properly funded, I could do just fine under either a defined benefit plan or a defined contribution or 401(k) plan. It just requires a projection of the retirement income that is needed and a funding strategy of contributions and investment returns to get there. What differs across the two plans is the exposure to risk and the responsibility for making choices.
Here's what Darmouth had to say about it:
Andrew Samwick, a Dartmouth professor of economics and director of the Nelson A. Rockefeller Center for Public Policy and Social Sciences at Dartmouth, is the 2009 New Hampshire Professor of the Year.
Presented by the Council for Advancement and Support of Education (CASE), and the Carnegie Foundation for the Advancement of Teaching, the U.S. Professors of the Year program salutes the most outstanding undergraduate instructors in the country - those who excel in teaching and positively influence the lives and careers of students.
Over at Vox Baby, Andrew Samwick really seems to be hitting on all cylinders these days. Take a look at his latest on the federal budget aspects of the Bush State of the Union Address.