While the 401(k) model took some heat after the recession, it appears to have inspired at least one other country to consider similar plans. MarketWatch reported Friday that China is considering launching a retirement savings program that is similar to 401(k) plans.
Citing unnamed sources at the Shanghai Security News, MarketWatch writes that China’s goal in launching the program would be to attract long-term investors to the securities market, as well as to protect individual wealth from inflation.
It’s unlikely that a 401(k)-style program will be implemented in the near term, MarketWatch writes, due to the high level of coordination among several government entities that would be necessary.