美国401(K)计划积累过程的“政策漏斗”:规定、影响及对策

"Policy leakage" for US 401( K) Accumulation Process:Regulations,Affect and Suggestions for Improvement

美国401(K)企业年金作为养老保障的重要组成部分,资产规模下降导致提升待遇充足性的作用减弱,而允许提前提取或移作他用等"政策漏斗"是资产规模减少的重要原因。通过分析美国401(K)计划政策漏斗的表现形式,讨论401(K)账户资产流失规模,提出建立全国性企业年金登记机构、账户清算中心,加强IRA管理和保护,严格提取规定等有针对性的建议,为我国企业年金的发展提供启示和借鉴。

American 401(K)enterprise annuity is as an important part of old-age security,the decline in the size of assets results in a weakening of the role of improving the adequacy of treatment,while allowing early extraction or transfer of"policy leakage"is an important reason for the reduction of asset size.By analyzing the manifestation of 401(K)plan policy leakage in the United States,this paper discusses the scale of asset loss in 401(K)assets,and puts forward some targeted suggestions,such as establishing National Enterprise Annuity Registration Agency,Account Clearinghouse,strengthening IRA management and protection,strictly extracting regulations,etc.This also has the enlightenment and the reference significance to the enterprise annuity development in China.