RT Journal Article SR Electronic T1 Governance: The Sine Qua Non of Retirement Security JF The Journal of Retirement FD Institutional Investor Journals SP 19 OP 28 DO 10.3905/jor.2016.4.1.019 VO 4 IS 1 A1 Michael E. Drew A1 Adam N. Walk YR 2016 UL https://pm-research.com/content/4/1/19.abstract AB In defined contribution (DC) systems, plan participants become the equivalent of miniature (underfunded) life insurance companies that insure only one person who has very limited skills in managing the risks being faced—principally, investment risk, inflation risk, and longevity risk—while still striving to achieve an adequate income. Thus, in the DC context, where pooling or risk sharing is eliminated or greatly reduced, achieving retirement security for all plan participants is clearly a challenge. This article proposes changes to governance and the regulatory framework aimed at meeting this challenge and ensuring adequate incomes in retirement.TOPICS: Retirement, legal/regulatory/public policy, risk management