The last CalPERS CIO resigned 8 months ago and has yet to be replaced. The longer the post stays open, the harder it will be to ensure CalPERS can fulfill all its obligations, notes Wharton Prof. Olivia S. Mitchell to the Fresno Bee.…Read More
People taking early withdrawals from retirement accounts might not be able to repay in the 3-year penalty-free period; if taxes go up, they’ll owe even more money, explains Wharton Prof. Olivia S. Mitchell on ‘Kent on Money’. …Read More
Older Americans are accumulating more debt as they approach retirement than prior generations, reports Wharton Prof. Olivia S. Mitchell to Dan Loney of Wharton Business Daily. Read the paper here.…Read More
Oregon’s state-sponsored auto-enrollment retirement program for workers whose employers don’t offer pensions: the program has helped some workers save, but others opted out. Wharton Prof. Olivia S. Mitchell examines the successes and shortcomings of the program, in a paper featured in the latest NBER Digest.…Read More
Women’s financial knowledge and confidence are quite low, with Black and Hispanic women particularly poorly served by one-size-fits-all financial education programs. Better-targeted programs that take their particular needs and circumstances into account would help, explains Wharton Prof. Olivia S. Mitchell in the Wharton Social Impact Faculty Spotlight. …Read More
Opting for phased retirement? Find your own path for fulfillment, and a ‘life portfolio’ is as important as a financial portfolio, involving health, and the people, places, and activities you value, explains Anna Rappaport. Via the RetireSecure blog.…Read More
Changes to the RMD age affect mostly households with bequest motives, so financial institutions should consider their clients’ intentions before advising them on RMD strategies. A research review of work by Wharton Prof. Olivia S. Mitchell, cited in PlanSponsor. Original paper by Horneff, Maurer, and Mitchell entitled “Do Required Minimum Distribution 401(k) Rules Matter, and For Whom? Insights from a Lifecycle Model”.…Read More
Workplace-sponsored financial education programs, as well as programs targeted to the specific circumstances of Black and Hispanic women, would boost financial literacy far more than a one-size-fits-all approach, explains Wharton Prof. Olivia S. Mitchell to Julie Stich of IFEBP. Paper here: Financial Well-being among Black and Hispanic Women…Read More
Financially literate older Americans are less likely to carry excessive debt, as per Wharton Prof. Olivia S. Mitchell, Prof. Annamaria Lusardi of the George Washington University, and Noemi Oggero of the University of Turin, in a report spotlighted by NBER.…Read More
Early 401(k) withdrawals can drastically reduce retirement assets; if need be, borrowing from a retirement account can be a safer option, explains Wharton Prof. Olivia S. Mitchell. Via Knowledge@Wharton.…Read More
