Social Security is entering a new era. Starting next year, benefits will be sustained not only by current payroll taxes but also by withdrawals from reserves accumulated over the last three decades. In about 15 years, however, the Social Security trust funds will be depleted. At that point, the earmarked revenues will cover only about […]
These Social Security plans could help solve America’s retirement crisis
America is facing a looming crisis as generations of workers who mostly participated in do-it-yourself savings plans — or no plan at all — approach retirement. Though a few high-income households have amassed small fortunes in tax-favored retirement accounts, such as 401(k)s and IRAs, at least half of working households are expected to see a […]