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Recently, the headlines in the financial section of the newspaper have been dominated by stories about the stock market declining. Some have termed this a “correction” believing that the value of the stock market was inflated to begin with. Regardless…
This week is National Retirement Security Week! Proclaimed by an official declaration from Congress, each year supporters of 401(k)-style defined contribution plans use this week to promote their products. We’ve decided to take back retirement security from the salesmen of…
We’ve discussed many times on this blog how the shift from defined benefit pensions to 401(k)-style defined contribution plans has decimated retirement security for a generation of working families. The true depths of the retirement savings crisis are quite alarming.…
Last week we wrote about the challenges facing black women in saving for retirement, but how many black women benefit from public pensions and the security they provide. Retirement insecurity is a problem for black women of all ages, but…
Retirement inequality is increasing in the United States and the age of retirement is one dimension of that inequality. While the overall average retirement age for Americans is increasing, that increase is not even across socio-economic status. Less educated workers…
Retirement has long been a part of the American dream. Throughout the twentieth century, the belief was that after a lifetime of hard work, workers could retire and enjoy their golden years. When defined benefit pensions were still common in…
Once there was a time in America when retirement meant enjoying your golden years. It could be taking a long-awaited trip, volunteering in your community, or spending time with the grandkids. Retirement, however, did not mean continuing to work. Unfortunately,…
We’ve spent a lot of time on this blog discussing the plight of working families struggling to save for retirement. It’s a challenge for many Americans to save for retirement with the decline of pensions in the private sector and…
It’s been 40 years since Congress passed the Revenue Act of 1978. Why is this obscure piece of legislation significant? Because the Revenue Act created Section 401(k) of the federal tax code. Over the past 40 years, the 401(k) provision…
We’ve written a lot on this blog about how 401(k)s and other defined contribution plans fail to provide adequate retirement savings for most working people. There is now plenty of evidence that most workers will not save anywhere close to…
Women typically enter their golden years with less retirement income than men. According to a report last year from the National Institute on Retirement Security (NIRS), women are 80 percent more likely than men to be impoverished at age 65…
As we’ve documented before, the Trump administration has taken multiple actions that will weaken the retirement security of working families. From attacking the pensions of federal employees to hindering the work of states to enact Secure Choice savings programs, the…