Retirement Security Is On A Treacherous Path, New Report Warns
A Forbes column indicates that retirement security is on a treacherous path for the future with dwindling pensions and proposals to cut Social Security.
“The most surefire way to achieve a secure retirement is to have income from a three-legged stool of a defined benefit pension plan, a 401(k) combined with other personal savings and Social Security, asserts the NIRS study. Yet only about 7 percent of seniors have that ideal combo, the report notes.
By contrast, 40 percent of seniors have only Social Security to rely on, the report states. Experts estimate often Social Security alone provides only 70 percent of what’s needed to maintain a pre-retirement standard of living, the NIRS study adds.”
Statement on Efforts in Alaska to Restore Pension Benefits to Address Grave Workforce Shortage
Alaska’s effort to restore a pension plan for public workers represents meaningful progress in addressing one of the state’s most pressing challenges: attracting and retaining a stable, experienced public workforce. While Governor Dunleavy has vetoed the legislation, the fact that the measure passed both the House and Senate demonstrates a growing recognition that retirement benefits are not just about retirement security — they also are an essential workforce management tool.
