Who’d Want to Limit Retirement Plans? House Republicans

There is no overstating how unprepared Americans are to retire. Nearly half of private-sector employees — some 55 million people — do not have an employer-provided retirement plan. Most of them are low- to middle-income earners who will end up relying on Social Security for between half and all of their income in retirement. And […]

401(k)s and IRAs Cannot Replace Social Security

401(k)s were never intended to replace pensions, so it should be no surprise that they aren’t up to the task. This has been pointed out before, but it’s nice to be reminded that even the people who came up with the 401(k) concept now “lament the revolution they started,” to quote an excellent article by the Wall Street Journal’s Timothy […]

A Tale of Two Retirements: The Great Divide Between CEOs and Everyone Else

The Institute for Policy Studies (IPS) earlier this month released its second annual report on the CEO-worker retirement benefit gap. A Tale of Two Retirements analyzes how CEOs are provided with colossal nest eggs– monthly retirement checks ranging from more than $100,000 to more than $1,000,000– while at the same time many of their companies pursue strategies […]

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 […]