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Matthew Fink, president of the Investment Company Institute (ICI), called on Congress to pass reform efforts that simplify the defined contribution system. "The rules governing these plans are a hodgepodge of confusing and sometimes conflicting requirements," he remarked in a speech last week at ICI's 1999 Mutual Funds and Investment Management Conference held in Palm Desert, Calif. Fink argued that there is inherent contradiction in the government's desire to increase retirement savings while simultaneously placing a set of complex rules on the DC industry. "In the case of defined contribution plans, we believe that retirement savings would be increased if plans were simplified," he said.