COVID-19 fallout may deplete the Social Security trust fund up to four years earlier than previously believed, say new projections from the Penn Wharton Budget Model, via the RetireSecure blog.…Read More
Family support is an important pillar of retirement security for many Americans, and COVID-19 is prompting families to quarantine together and rethink nursing homes. Yet this poses new challenges for multigenerational households and causes stress, says Anna Rappaport in the RetireSecure blog.…Read More
Is Social Security a wealth equalizer? John Sabelhaus’ RetireSecure blog notes that including Social Security in household assets boosts wealth levels but doesn’t alter growing wealth inequality.…Read More
Many retirement savers saw their 401(k) or 403(b) assets shrink this year due to the volatile stock market. Yet declining interest rates are boosting many people’s expected retirement wealth, explains James Mahaney.…Read More
The Pension Research Council’s 2020 Symposium, “Managing Longevity Risk: New Roles for Public/Private Engagement,” cohosted by Wharton Prof. Olivia S. Mitchell and Surya Kolluri of Bank of America, was held online on May 7, 2020. Here are some of the highlights from the event.…Read More
The Coronavirus pandemic is hurting Americans’ retirement savings. How the Social Security benefit formula is computed could pose another threat to some near-retirees, says Andrew G. Biggs.…Read More
Many firms are starting to offer financial wellness programs to reduce employees’ financial stress and help them save for retirement, says James Mahaney.…Read More
Many defined benefit pensions and investment companies are seeking sustainable investment options, while defined contribution plans lag behind, says Catherine Reilly.…Read More
Though favored by academics and policymakers, annuities are less popular than other retirement plan options. Yet the recent SECURE Act may change that, according to Matt Carey.…Read More
A plan to fill the gaps in American’s pension system was kiboshed fewer than 18 months after launch. “The Short Life and Untimely Death of the MyRA” by Mark Iwry explains the proposal, its abrupt end, and where things might go next.…Read More
