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 […]

The Retirement Revolution That Failed: Why the 401(k) Isn’t Working

Aross the political spectrum, people warn of a coming time bomb in our retirement system. Many analysts believe the growing population of retirees will overwhelm the Social Security program, and that something must be done to shore up its finances. However, there’s another slow-moving time bomb out there, and that’s the gradual retirement of workers […]

The State of American Retirement: How 401(k)s have failed most American workers

The emerging retirement security crisis in the United States and the growing importance of social security. Today, many Americans rely on savings in 401(k)-type accounts to supplement Social Security in retirement. This is a pronounced shift from a few decades ago, when many retirees could count on predictable, constant streams of income from traditional pensions […]