The Pension Research Council’s curated blog features insights from the industry’s leading professionals. Views of our Guest Bloggers are theirs alone, and not of the Pension Research Council, the Wharton School, or the University of Pennsylvania.
Will Multiple Employer Plans Solve the Pension Coverage Gap?
Retirement legislation is one of the few areas where there currently appears to be bipartisan consensus in the US Congress. The SECURE Act, a comprehensive package covering numerous aspects of retirement saving, recently passed the House by a vote of 417-3 and it is expected to pass the Senate this year. One of the bill’s key provisions is to allow the creation of “open” Multiple Employer Plans (MEPs).…Read More
Generational Differences and Debt
Older Americans are carrying growing levels of debt into retirement. This topic was the main focus of the 2019 Pension Research Council symposium, and debt was also studied in a recent Society of Actuaries (SOA) study entitled “Financial Perspectives on Aging and Retirement Across the Generations.” Both efforts provide important insights into what people say about financial priorities and debt across generations, and both confirm that debt is important in retirement planning. …Read More
Captain Your Own Ship: Retirement Security Options for the Self-Employed
More Americans are becoming self-employed as a result of growing entrepreneurial interests, a desire to enhance income, phased retirement, and tax advantages. Retirement security is crucially important for the self-employed.…Read More
Social Security: Don’t Stop The Music
Back in 2016, several of the main presidential candidates talked about raising Social Security benefits. But few dared talk about realistic suggestions about how to close the system’s existing shortfall, much less how to raise money to cover new benefits.…Read More
The Long and the Short of It: Financial Fragility in America
While Americans’ long-term financial security is essential, a target deserving of equal – if not more – attention has been overlooked, namely short-term financial security. A large number of U.S. households are financially fragile today, and their well-being as well as that of the entire economy rests on households’ capacity to deal with shocks.…Read More
Practical Issues for Phased Retirement
As a phased retiree for 15 years, I’ve come to several conclusions about how to remain engaged post-retirement. Many of us want some type of work but not full-time; others seek work as independent contractors: and still others, as volunteers. Here I offer several lessons from experience.…Read More
Why Making Big Decisions At Older Ages Is So Risky
Every single day from now until 2030, about 10,000 Baby Boomers turn 65. While this doesn’t mean we become instantly feeble on our birthday, it does mean that we must start planning ahead for things that will be much more difficult to handle later.…Read More
Three Steps Toward A More Secure Retirement In A Low-return World
Though many retirement savers will be pleased with their retirement plan 2017 investment results, the outlook for market returns over the next 10-15 years remains less than inspiring. J.P. Morgan Asset Management’s Anne Lester and Daniel Oldroyd discuss how to take steps towards a secure retirement in a low-return world.…Read More
Millennials, Engage With Your Money
Millennials – people born 1981-2001 – are a force to be reckoned with. Millennials, all 75 million of them, grew up in the midst of our country’s greatest financial crisis. The roles the Millennial generation now play – and will play – as consumers, workers, educators, and future leaders is what makes this group so interesting.…Read More
Good Advisors Will Speak Our Language
Now that I’m retired, I’m finding that my wife and I are engaging in different financial conversations with our advisors than we did earlier in life. I believe that this new perspective should drive how a successful advisor talks to us, as well as many other older couples and individuals.…Read More
A Financial Literacy Test That Works
Brokers, financial advice providers, and many others need to test peoples’ ability to manage their money. Nevertheless, there are some who debate such tests arguing that they aren’t useful for predicting behavior. But our work has confirmed that there actually IS a short and very effective diagnostic financial literacy test that can be used to measure financial know-how and predict behavior.…Read More