Racial covenants in the US have hindered Black Americans from acquiring homes and contributed to economic disparities, concludes Larry Santucci of the Federal Reserve Bank of Philadelphia. Via RetireSecure blog.…Read More
Our newest volume, Reducing Retirement Inequality: Building Wealth and Old-Age Resilience, is now available for order via Oxford University Press.…Read More
The Social Security Fairness Act fails to address the system’s deeper financial issues and exacerbates the program’s financial instability, warns Olivia S. Mitchell, Executive Director of Wharton’s Pension Research Council, via thinkadvisor.com.…Read More
Older Americans in racial/ethnic communities are struggling with debt in retirement, highlighting the role for targeted interventions to ensure more equitable retirement outcomes and improve retiree financial security, explains Senior Research Associate, Mingli Zhong of the Urban Institute, via the RetireSecure blog.…Read More
By passing the Social Security Fairness Act, Congress not only continues to neglect the system’s looming insolvency but also accelerates its arrival, argues Olivia S. Mitchell of the Wharton School argues, via newsweek.com.…Read More
Racial disparities threaten many Americans’ financial security, but effective policies could mitigate these challenges and help families build a secure retirement foundation, explain Karen Dynan and Doug Elmendorf of the Harvard Kennedy School, via RetireSecure Blog.…Read More
Retirees often regret what they did wrong, including retiring too soon, not saving enough, and not buying lifetime income, report Olivia S. Mitchell of Wharton’s Pension Research Council and Abigail Hurwitz from the Hebrew University in their new NBER WP, reported by Kerry Hannon via yahoofinance.com.…Read More
Bipartisan legislation is pending in Congress to grant public-sector workers, including those in 403(b) retirement plans, access to collective investment trusts (CITs), long available only to private-sector employees. With CITs offering lower costs and improved transparency, fiduciaries should consider including them in their fund lineups once the legislation is passed, explains Jason Levy of Great Gray Trust Company, via RetireSecure Blog.…Read More
For groundbreaking research influencing public policy on pensions and highlighting the critical role of financial literacy, Olivia S. Mitchell, Wharton Professor and Director of the Pension Research Council at the University of Pennsylvania, will be honored with CIO’s 2024 Lifetime Achievement Award. — Via Chief Investment Officer. …Read More
Competing economic proposals could have conflicting effects on private retirement savings for Americans, reducing incentives for some to save while making it more difficult for others to effectively save and invest, notes Professor Olivia S. Mitchell of Wharton’s Pension Research Council, according to Plansponsor.com.…Read More
