Many multiemployer pensions were already severely underfunded; the just-passed budget bill reduces penalties for employers withdrawing from those plans. Aharon Friedman believes potential consequences will be dire. Via the RetireSecure blog.…Read More
Financial wellness programs as an employee benefit have spread of late, but more can be done given COVID-19’s economic effects, explain Kevin Crain, Surya Kolluri, and Sheila Gorman. See our new RetireSecure blog.…Read More
The Social Security Administration’s estimates of its shortfalls are overly optimistic, and looming insolvency will likely come sooner than expected unless key problems are addressed, cautions James Moore on the RetireSecure blog.…Read More
Long-term care in the United States has long been underfunded and had its problems ignored, which set the stage for COVID-19 infection and death in care facilities. Nora Super, Jason Davis, and Caroline Servat of the Milken Institute outline several public and private options to improve care financing, via the RetireSecure blog.…Read More
Lower returns, longevity risk make defined benefit pensions more challenging for employers to offer, but some plan sponsors are transferring these risks to (re)insurers, writes John Kiff at the RetireSecure blog.…Read More
Some US states have created state-sponsored plans to help private-sector workers save for retirement. Assurance funds such as tontine pensions could help convert retirement savings into lifetime income, report Richard K. Fullmer and Jonathan Barry Forman in the RetireSecure blog.…Read More
The COVID-19 pandemic has exposed and worsened retirement system problems. Now it’s time to reform and strengthen those systems, says Wharton Prof. Olivia S. Mitchell at the RetireSecure blog, discussing her recent paper.…Read More
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
