Tackling Retirement Would Be Bi-Partisan Win for Biden
In a new MarketWatch column, Dan Doonan says President Joe Biden faces many challenges, from the coronavirus pandemic to high unemployment to widespread social unrest. He’s also facing resistance from Congress and a politically polarized nation. But where Biden’s efforts enjoy bipartisan support is solving the retirement savings crisis. Despite deep divides, Americans are united in their worries about their financial security as they age. Three-fourths of Americans say the nation faces a retirement crisis, including 80% of Democrats and 75% of Republicans and Independents.
Pensions Support a Stable, Experienced Public-Sector Workforce
Public pensions help government employers retain experienced career workers, reducing costly turnover and supporting the reliable delivery of essential public services, according to a report, Workforce Turnover and Retention in the Public Sector: Insights from Public Pension Plans. The research finds that while employee departures are concentrated in the first five years of service, retention is strong among workers who remain beyond that point.
80% of Americans Say U.S. Faces Retirement Crisis Amid Affordability Pressures and Debt
National polling research from the National Institute on Retirement Security finds that 80 percent of Americans believe the nation faces a retirement crisis, as rising costs, debt, and other affordability pressures make it harder to save. The survey also finds widespread caution about AI-generated financial advice and cryptocurrency in workplace retirement plans, while 85 percent say Washington should make retirement security a higher national priority.
