In the News • January 27, 2017
“Nationwide, Hispanic and African American households have average retirement savings of $30,000, one-fourth of the $120,000 saved by white households, according to a 2013 report from the National Institute on Retirement Security. Those realities are expected to strain social and senior services in the United States for decades, as even families on the high end of […]
In the News • January 10, 2017
The Wall Street Journal recently ignited an online forest fire when some of the early champions of the 401(k) surprisingly disclosed a change of heart, seeing that the retirement investment accounts haven’t lived up to their expectations. Why the lament? Herbert Whitehouse, a former Johnson & Johnson human-resources executive, and one of the first in the U.S. to urge […]
In the News • January 5, 2017
Americans face a host of retirement challenges. The transition to defined contribution (DC) plans hands more responsibility to workers to provide for themselves in retirement. Fiscal pressures on Social Security and Medicare place the future of those systems in doubt. Rising healthcare costs add further uncertainty. And slow growth in real household income and rising […]
In the News • January 2, 2017
The dominant vehicle for retirement savings has fallen short of its early backers’ rosy expectations; longer life spans, high fees and stock-market decline. Read the article here.
In the News • November 28, 2016
Read the article at Pensions & Investments.
In the News • November 11, 2016
“Retirement security already looked like a looming train wreck for most U.S. households before Election Day. Now, the consolidation of Republican control of government threatens to accelerate the crash. It is too early to predict the agenda Donald Trump will bring to the White House on retirement policy, or where it might fit on his priority […]
In the News • October 24, 2016
“It was a striking image. A photo of an 89-year-old man hunched over, struggling to push his cart with frozen treats. Fidencio Sanchez works long hours every day selling the treats because he couldn’t afford to retire. The photo and his story went viral and thousands of people donated more than $384,000 for his retirement. […]
In the News • September 27, 2016
“What does it take to be middle class in Los Angeles? That was the question Ross DeVol started out asking himself when he began calculating how much a resident would need to make to spend 30 percent of earned after-tax income on rent for a two-bedroom apartment in Los Angeles County. The answer: a whopping […]
In the News • September 20, 2016
“The Financial Times reports today that the “U.S. is building toward a pensions crisis,” noting that “roughly 45% of working-age households have no retirementsavings.” Forgive me if I don’t wet my pants. Figures like these tell us very, very little about how well Americans are preparing for retirement. In fact, as my new American Enterprise Institute paper shows, better data […]