The Scandal of Vast Inequality in Retirement Pay

Cato the Elder, a Roman senator and historian, once remarked: “Cessation of work is not accompanied by cessation of expenses.” For centuries, retirees have been aware of this unfortunate fact, which led them to demand and, in many cases, secure old age pensions to help provide financial security during their “golden years.” But as indicated […]

We Have a Retirement Savings Problem. Politicians Can Help.

It should be easier to save money for retirement. We can all agree on that, right? But about half of all Americans who work in the private sector do not have access to an employer-based retirement plan like a 401(k). Federal legislation to increase those numbers has not amounted to much. And fledgling state efforts, […]

401(K) Plans: A Failed Experiment

The first birth cohort exposed to the 401(k) system for most of their working lives is now approaching retirement. 401(k) participants in this cohort have accumulated only about a third of the savings they need to maintain their standard of living in retirement. The 401(k) system fails even those who use it as instructed. High […]

Pension Benefits in 2014 Generated $1.2 Trillion in Economic Output Supporting 7.1 Million Jobs Across U.S.

Our latest research finds that economic gains attributable to private and public sector defined benefit (DB) pensions in the U.S. are substantial. Retiree spending of pension benefits in 2014 generated $1.2 trillion in total economic output, supporting some 7.1 million jobs across the U.S. This pension spending also filled government coffers with retirees paying a […]