The elderly have long been seen as financially fragile, meaning that they may be ill-equipped to absorb a financial shock. The key reason is that, once retired, they have little ability to increase their income compared to working households. Going forward, retirees will get less of their income from Social Security and traditional pensions and […]

Many people studying retirement income have long warned about the risk to future retirees from the collapse of the traditional defined benefit pension. Middle-class workers have generally been able to enjoy reasonably comfortable retirements due to the income these defined pensions provided, in addition to their Social Security. However, with defined benefit pensions rapidly disappearing, […]

There is no way to get to anything resembling a secure retirement system without expanding Social Security. We also need to fix the broken employer-based retirement system, but fixing pensions and expanding Social Security are not substitutes. A comprehensive retirement security bill needs both. Let’s start with Social Security.  Social Security is a social insurance […]