Social Security benefit payments have exceeded revenue for more than a decade. Uncertainty over program solvency makes it difficult to plan for retirement, explains Wharton Professor Olivia S. Mitchell, via aol.com.…Read More
Attitudes toward the future shape household wealth accumulation, as well as kids’ saving and non-financial choices, report researchers John Knowles of Simon Fraser University and Andrew Postlewaite of the University of Pennsylvania, via the RetireSecure Blog.…Read More
Longevity uncertainty, high prices, and lack of understanding decrease demand for long-term care insurance, leaving many unprepared for future long-term care costs, explains Wharton Professor Olivia S. Mitchell, via policygenius.com. …Read More
Benefits for faculty have gradually increased over time with the most dramatic growth being in healthcare coverage, explains Robert Toutkoushian of the Louise McBee Institute at the University of Georgia, via RetireSecure blog. …Read More
SECURE 2.0 provisions benefit both plan sponsors and plan participants, per Melissa Kahn, Head of Retirement Public Policy at State Street Global Advisors and Olivia Mitchell, Wharton Professor, via SSGA.com.…Read More
Black and Hispanic families in the U.S. disproportionately face inadequate income in retirement. The Pension Research Council’s 2023 Symposium “Diversity, Inclusion, and Inequality: Implications for Retirement Income Security and Policy” discussed factors contributing to the wealth gaps and policy reforms to help reduce it. Via Plansponsor.…Read More
Mortality is projected to fall dramatically in the coming decades so most people should expect longer lifespans, according to Professor David McCarthy of the University of Georgia’s Terry College of Business. To retire securely, people must save more and work to stay healthier, he explains in RetireSecure Blog. …Read More
Wharton Professor Olivia S. Mitchell discussed her research on “How the Pandemic altered American’s Debt Burden and Retirement Readiness” at the 8th International Pension Research Association (IPRA) Conference, June 14, 2023. This paper was co-authored with Annamaria Lusardi and Andrea Hasler of George Washington University and GFLEC.…Read More
Workplace changes, economic shifts, technological advances, evolving family dynamics, and the aging population are among the megatrends reshaping work, retirement, and financial security, explains Anna Rappaport of the Society of Actuaries, via the RetireSecure blog. …Read More
People believing they will live longer are more likely to buy annuities, so educating near-retirees about chances of surviving to older ages could help motivate annuitization, report researchers Karolos Arapakis and Gal Wettstein of the Center for Retirement Research at Boston College. …Read More
