One of the main achievements of American society over the last 100 years is the system of public and private benefits that have made it possible for most Americans to enjoy a comfortable retirement after decades of employment. Trends, however, in the U.S. economy and in private pension plans and the increasing costs of health care and housing for a growing number of older people over the last 40 years have begun to erode retirement security for many older Americans. These same trends are also putting retirement security at risk for future retirees, especially those born after 1980 and for minority workers. The attached articles provide an overview of these trends and their projected impact on the lives of an increasing number of Americans and some initiatives that can be taken in the public and private sector to restore retirement security for current and future retirees.
Articles:
- Economic Insecurity Is Becoming the New Hallmark of Old Age (The Nation)
- Soaring bankruptcy rates signal a ‘coming storm of broke elderly,’ study finds (ABC)
- Why work has failed us: Because no one can afford to retire anymore (Fast Company)
- Trends in Retirement Security by Race/Ethnicity (Center for Retirement Research)
- The retirement crisis is bad for everyone — especially these people (Market Watch)
- Fewer Americans are making more than their parents did—especially if they grew up in the middle class (Brookings)
- The Federal Government Gave Up on Retirement Security (The Atlantic)
- The Forgotten Middle: Many Middle-Income Seniors Will Have Insufficient Resources For Housing And Health Care (Health Affairs)
- Middle-Class Economic Security Declines As Risks Rise And Wealth Falls (Forbes)
- Seniors Were Sold a Risk-Free Retirement With Reverse Mortgages (Portside)
- The Economy Is Strong. So Why Do So Many Americans Still Feel at Risk? (The New York Times)
Issue Briefs:
- National Retirement Risk Index Shows Modest Improvement in 2016 (Center for Retirement Research)
- Will Millennials Be Ready for Retirement?(Center for Retirement Research)