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全球金融危机让投资者们的收益直线下滑。这并非(美国)目标期限基金退休计划应出现的情况,它本该会维持资金的稳定和软着陆并作为员工退休后的生活保障。通常退休基金的目标期限很快就会到来,投资者将眼睁睁地看着自己构筑的巢穴慢慢萎缩——退休基金没能作为投资者风险投资的工具,却将使其蒙受重大损失。如果制定目标期限基金的目的是临近退休时避免重大的资产损失,它们的参与者就会少之又少了——至少在短期内会如此。
The global financial crisis caused investors’ earnings to plummet. This is not the case for the retirement plan of the United States target-maturity fund. It should have maintained a stable and soft landing of funds and served as a living guarantee for employees after retirement. As a rule, pension funds will usually reach their target deadline, investors will watch their nest slowly shrink - the failure of pension funds to act as an investor in venture capital will result in significant losses. If the purpose of establishing a target maturity fund is to avoid significant loss of assets in the immediate vicinity of retirement, their participation will be minimal - at least for the short term.