Retirement Security

Why Do Late Boomers Have So Little Retirement Wealth?

Over the last 40 years, the retirement system has shifted from defined benefit plans to defined contribution plans, primarily 401(k)s and Individual Retirement Accounts (IRAs). This shift has been accompanied by a decline in Social Security benefits relative to pre-retirement earnings as the program’s Full Retirement Age has moved from 65 to 67. Thus, the […]

The Forgotten Middle: Many Middle-Income Seniors Will Have Insufficient Resources For Housing And Health Care

As people age and require more assistance with daily living and health needs, a range of housing and care options is available. Over the past four decades the market for seniors housing and care—including assisted living and independent living communities—has greatly expanded to accommodate people with more complex needs. These settings provide housing in a […]

How Do Older Workers Use Nontraditional Jobs?

Working consistently through one’s fifties and early sixties is key to attaining retirement security. However, workers also need access to retirement plans – so they can continue to accumulate resources – and health insurance – so they can avoid withdrawing assets in the event of a health shock. Workers without access to these benefits will […]

Will More Workers Have Nontraditional Jobs as Globalization and Automation Spread?

Recent research has called attention to alternative employment arrangements that often leave workers without retirement and health benefits and with income instability.  At the same time, workers are facing increasing competition from automation and globalization.  This competition is of special concern for older workers, who increasingly need longer careers to secure an adequate retirement and […]

Retirement Prospects for the Millennials: What is the Early Prognosis?

Various policy developments and long-term economic, social, and demographic trends raise worrisome questions about the financial security of future retirees. An erosion in employer-sponsored defined benefit pension coverage and the increase in Social Security’s full retirement age could shrink future benefits. Stagnating employment and earnings for men could threaten future retirement security, because retirement benefits […]