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
The ongoing COVID-19 crisis exacerbated existing retirement system problems. Part of the solution: working longer, new pension models, and decoupling retirement saving from firms, Wharton Prof. Olivia S. Mitchell explains to Diario Financiero, discussing her recent study.…Read More
Money-back guarantees on retirement accounts may reduce risk of losing money but at much higher cost, report Vanya Horneff, Daniel Liebler, Raimond Maurer, and Olivia S. Mitchell in their study cited by ThinkAdvisor.…Read More
Retirement systems were fragile even before the COVID-19 pandemic, but exploding unemployment, pension underfunding, and very low returns make the problems more urgent. New PRC working paper “Building Better Retirement Systems in the Wake of the Global Pandemic” by Wharton Prof. Olivia S. Mitchell discusses possible solutions, via PlanSponsor.…Read More
Pension plans at greater risk in the wake of COVID-19, but there are opportunities to build better systems if policymakers provide better data, enhance financial literacy, says Wharton Prof. Olivia S. Mitchell in her new working paper, cited in ThinkAdvisor.…Read More
Some Chilean lawmakers seek to nationalize the country’s pension system, which would set back economic development and erode Chileans’ trust in their economy. Wharton Prof. Olivia S. Mitchell, member of the 2014-15 Bravo Commission for Chilean Pension Reform, expresses concern to Gene Kuleta at The Dialogue.…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
Americans who retire abroad tend to stay there until their health begins to decline, then return to the US for care and to be closer to family, Wharton Prof. Olivia S. Mitchell explains to Sindya N. Bhanoo of the Washington Post. Health and safety concerns in the wake of COVID-19 may make many return sooner.…Read More
Longer lives mean greater risk of outliving retirement savings, but public-private partnerships can help make up the shortfalls. Wharton Prof. Olivia S. Mitchell and Surya Kolluri of Bank of America co-hosted the Pension Research Council’s recent Symposium and outlined options with Knowledge@Wharton.…Read More
Financial literacy can help improve retirement planning and reduce debt at older ages, reports Retirement Daily, citing study by Annamaria Lusardi, Olivia S. Mitchell, and Noemi Oggero.…Read More
