In a Forbes column, NIRS Executive Director Dan Doonan writes that during the unprecedented COVID-19 global health and economic crisis, pension funds remained a stable and reliable source of income for retirees. More specifically, pension plans paid out $612.6 billion in retirement income to nearly 25 million public and private sector retirees in communities across the nation.
Unlike retirees with 401(k) account balances that plummeted amid market volatility, retirees with a pension continued to receive a reliable and stable monthly income. And that meant pensioners could feel confident spending at the same rate despite the economic turmoil, while retirees lacking a pension likely were fearful of spending their nest egg.
In a Forbes column, NIRS Executive Director Dan Doonan writes that as America ages and income inequality deepens, concerns about retirement security are mounting. Some voices, however, indicate that retirement concerns are exaggerated, relying on data indicating that older Baby Boomers have largely fared well in retirement. But new research published in The Journal of Retirement […]
Contrary to popular belief that Millennials and Generation Z employees are constantly switching jobs, new research from the National Institute on Retirement Security finds that younger workers today show job retention patterns that closely mirror previous generations at the same stage of their careers.