Retirement Security

Column: Following order on payroll tax, Trump threatens to kill Social Security if reelected

With his four executive orders purportedly aimed at relieving Americans of the burdens of the coronavirus, President Trump spun the theme of his administration — “the Art of the Con” — to a higher level. The orders he signed Saturday include a supposed moratorium on evictions and foreclosures, a deferral of student loan payments and […]

Millions of baby boomers are getting caught in the country’s broken retirement system

They went to work every day and built a life for themselves, put money away in a savings plan and paid their taxes. And then they got divorced or hurt on the job or sick or widowed or just plain unlucky — and found themselves in the same boat as millions of Americans who are […]

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 State of American Retirement Savings

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 (see “Types of retirement plans” box). This chartbook assesses the impact of the shift from pensions […]

How does gender equality affect women in retirement?

In the 100 years since the ratification of the 19th Amendment, women have made substantial and well-publicized gains—both in absolute terms and relative to men—in educational attainment, employment, and earnings. Their status in retirement, however, has received far less attention. Variations across individuals or groups in economic status in retirement can be traced to differences […]