Description: This paper suggests that two opposing pressures are at work in the United States. One is the limit to the number of retired adults that the nation can support. The other is the growing diversity of needs and desires of older people and employers. These two opposing pressures will frame the issues of the future.

Description: This paper concentrates on who carries what risks if the national stocks-for-retirement cycle is fundamentally flawed and can fail a millions of baby-boomers grow older. From Cash Balance Symposium Monograph, M-RS02-3.