Over the past two decades, employers have helped workers save for retirement through automatic 401(k) enrollment and target-date funds. But few help them spend wisely in retirement. Professor Olivia S Mitchell proposes that legislators make annuities the default option in 401(k)s, giving retirees steady income for life. It’s a smart, equitable step toward real retirement security.…Read More
Trump-era policy shifts pose new risks to Americans’ retirement security. Yet, as Wharton Prof. Olivia S. Mitchell warns, retirees already depend heavily on Social Security and investment safeguards – making it more critical to plan ahead and push for reforms before protections weaken further.…Read More
Younger generations are likely to need to work longer than did their parents. Yet, as @Wharton Prof. Olivia S. Mitchell cautions, US retirees still rely heavily on Social Security benefits, making it all the more urgent to restore the system’s long-term solvency before benefits must be cut in 7 years…Read More
The U.S. retirement system gets a grade of C+, so what can be done to improve it? Wharton Prof. Olivia S. Mitchell and others explain the appeal of a national defined contribution plan, paired with guaranteed lifetime incomes.…Read More
How to avoid outliving your retirement savings? New research by Wharton Prof. Olivia S. Mitchell and co-authors shows that defaulting a portion of retirees’ 401(k) assets into annuities could boost their retirement security, especially for those who don’t understand the risk of outliving their assets.…Read More
Wharton professor Olivia S. Mitchell joins This Week In Business to discuss Fidelity data showing record-high retirement saving rates and how generational trends, employer incentives, and concerns over Social Security and debt are shaping the future of retirement preparedness.…Read More
Limited financial experience and retiree hesitancy are jeopardizing retirement security, warn Wharton Professor Olivia S. Mitchell and co-authors. Their research finds that automatically placing a portion of retirees’ savings into deferred income annuities enhance retirement security for most people, potentially overcoming behavioral factors in their plan design.…Read More
Rising longevity combined with declining financial literacy is leaving many retirees vulnerable to retirement insecurity, explain Wharton Professor Olivia S. Mitchell and co-authors. Her research highlights the urgent need for better annuity options and user-centric advice to help safeguard older Americans’ financial futures.…Read More
Why do many advisors lean toward or avoid annuities, and what can make them rethink? New research highlighted in the NBER Reporter by Wharton Professor Olivia S. Mitchell and co-author Abigail Hurwitz reveals the behavioral and financial forces driving financial advisors’ annuity recommendations, and how client health and other characteristics influence their retirement advice.…Read More
What if a new approach to 401(k) plans could pay retirees stable lifetime incomes, with lower costs and better protection against running out of money? New research by Wharton professor Olivia S. Mitchell and co-authors explores how using deferred lifetime income annuities would reshape retirement wellbeing. …Read More
