Kohl says baby boomers making risky investments, proposes legislation to direct funds
U.S. Sen. Herb Kohl, D-Wis., of Menomonee Falls says too many baby boomers have risky investments that could derail their plans to retire in the next couple years.
Kohl, a Wisconsin Democrat, chairs the Senate's Special Committee on Aging which found that many people who plan to retire next year have 401-K money in volatile target-date funds with sharp declines.
Kohl said one such fund lost 41 percent of its value last year.
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