In a speech on 'The Role of Self-Regulation and Voluntary Compliance Incentives in the Design of Pension Systems' William Poole of the Federal Reserve Bank of St. Louis said the United States does not have a perfect pension system. Indeed, the system suffers today from a number of serious strains and poor design features. Nevertheless, there are ways to address these strains and to strengthen the system over time, he said. The central feature of a program to strengthen the system is to focus on