New CARES Act lets Americans take penalty-free withdrawals from their retirement savings, but many have no retirement accounts, while those who do cash out could face future shortfalls, Wharton Prof. Olivia S. Mitchell explains to CNBC Make It.…Read More
Low-income households’ retirement incomes have been rising and their poverty rates falling in recent decades due to rising Social Security benefits, but there’s still room for improvement, reported Andrew G. Biggs to PlanSponsor when discussing his recent study for the Pension Research Council. …Read More
Taxing pension contributions (aka 401(k) ‘Rothification’) instead of payouts could reduce tax revenue in the long term, reports Prof. Olivia S. Mitchell to Wharton Business Daily, discussing her recent study.…Read More
Few buy annuities, yet using just 10% of your retirement savings to buy deferred lifetime income benefits can be a great benefit, explains Olivia S. Mitchell to Elaine Silvestrini at Annuity.org.…Read More
Professor Olivia S. Mitchell gave the keynote speech at the 2nd CEAR-RSI Household Finance Workshop in Montreal, on ‘Making Your Money Last a Lifetime.’…Read More
Are money-back guaranteed retirement accounts a good deal? Not now, explains Wharton’s Olivia S. Mitchell to MarketWatch here, citing her recent study with Vanya Horneff, Daniel Liebler, and Raimond Maurer (posted here).
Millennials should save 40% of paychecks to retire at 65, says Olivia S. Mitchell of Wharton, but only 1 in 5 save more than 15%. Read more here.
2019 Ketchum Prize recipient Olivia S. Mitchell of Wharton discusses challenges for retirement planning including longevity risk, financial literacy, and social security on a new FINRA podcast. Listen to “The Evolving World of Retirement Security” here.
Wharton Professors Olivia S. Mitchell and Marshall Meyer put GE’s pension freeze/buyout in context and discuss potential fallouts: @WhartonKnows journal & podcast here. Image courtesy of Jeff Turner on Flickr.
Only 16% of the Fortune 500 still offer defined benefit plans, vs 60% 30 years ago, says Wharton’s Olivia S. Mitchell, discussing the announcement that GE will freeze pension accruals for 20K employees & offering lump sums to 100K more. Read here.http://bit.ly/2MlBmbk Image courtesy of Chuck Miller.
