Download or read book Aging and the Macroeconomy written by National Research Council and published by National Academies Press. This book was released on 2013-01-10 with total page 230 pages. Available in PDF, EPUB and Kindle. Book excerpt: The United States is in the midst of a major demographic shift. In the coming decades, people aged 65 and over will make up an increasingly large percentage of the population: The ratio of people aged 65+ to people aged 20-64 will rise by 80%. This shift is happening for two reasons: people are living longer, and many couples are choosing to have fewer children and to have those children somewhat later in life. The resulting demographic shift will present the nation with economic challenges, both to absorb the costs and to leverage the benefits of an aging population. Aging and the Macroeconomy: Long-Term Implications of an Older Population presents the fundamental factors driving the aging of the U.S. population, as well as its societal implications and likely long-term macroeconomic effects in a global context. The report finds that, while population aging does not pose an insurmountable challenge to the nation, it is imperative that sensible policies are implemented soon to allow companies and households to respond. It offers four practical approaches for preparing resources to support the future consumption of households and for adapting to the new economic landscape.

Download or read book Wealth After Work written by William G. Gale and published by Brookings Institution Press. This book was released on 2021-07-27 with total page 406 pages. Available in PDF, EPUB and Kindle. Book excerpt: Pensions and retirement saving plans have helped millions of households build financial security. But tens of millions of people have been left behind, without access to these wealth accumulation vehicles. For many others, the plans they have do not ensure financial security in retirement. The problems that underlie these failures can be addressed. This book proposes concrete, practical ways to make dependable retirement income accessible for all Americans—not just those with means. Individual accounts have eclipsed traditional pensions as the primary vehicle for retirement saving in the United States—a shift that underlies many sources of retirement insecurity. The 401(k) plan and similar accounts have increased financial security for many people but have done nothing for millions more. Many of those who do have such plans are burdened with the need to make numerous saving, investment, and withdrawal decisions that stress their financial acumen. Financial advice that is unbiased, unconflicted, and affordable is often difficult to find. Managing wealth in retirement—especially the need to convert retirement savings into steady income—poses significant challenges that current financial instruments and practices do not adequately address. Economic downturns like the Great Recession and the COVID-19 pandemic increase financial insecurity and make addressing these issues more urgent. Written by noted experts in the field, Wealth After Work offers practical solutions that address these concerns. The proposals show how policymakers can help all Americans gain access to retirement savings accounts, obtain better information about their savings choices, and better manage their wealth in retirement. By proposing solutions that build on, rather than replace the existing system, the book provides a nuanced, practical guide to reform that would benefit all Americans.

Download or read book Policies to Promote Saving for Retirement written by Dimitri Vittas and published by . This book was released on 2016 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt: Vittas argues that public ...

Download or read book Public Policies and Household Saving written by James M. Poterba and published by University of Chicago Press. This book was released on 2007-12-01 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt: The declining U.S. national saving rate has prompted economists and policymakers to ask, should the federal government encourage household saving, and if so, through which policies? In order to better understand saving programs, this volume provides a systematic and detailed description of saving policies in the G-7 industrialized nations: the United States, Canada, France, Germany, Italy, Japan, and the United Kingdom. Each of the seven chapters focuses on one country and addresses a core set of topics: types of accumulated household savings and debt; tax policies toward capital income; saving in the form of public and private pensions, including Social Security and similar programs; saving programs that receive special tax treatment; and saving through insurance. This detailed summary of the saving incentives of the G-7 nations will be an invaluable reference for policymakers and academics interested in personal saving behavior.

Download or read book Social Security Policy in a Changing Environment written by Jeffrey R. Brown and published by University of Chicago Press. This book was released on 2009-12-15 with total page 473 pages. Available in PDF, EPUB and Kindle. Book excerpt: Social Security Policy in a Changing Environment analyzes the changing economic and demographic environment in which social insurance programs that benefit elderly households will operate. It also explores how these ongoing trends will affect future beneficiaries, under both the current social security program and potential reform options. In this volume, an esteemed group of economists probes the challenge posed to Social Security by an aging population. The researchers examine trends in private sector retirement saving and health care costs, as well as the uncertain nature of future demographic, economic, and social trends—including marriage and divorce rates and female participation in the labor force. Recognizing the ambiguity of the environment in which the Social Security system must operate and evolve, this landmark book explores factors that policymakers must consider in designing policies that are resilient enough to survive in an economically and demographically uncertain society.

Download or read book How Persistent Low Returns Will Shape Saving and Retirement written by Olivia S. Mitchell and published by Oxford University Press. This book was released on 2018-08-23 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt: Financial market developments over the past decade have undermined what was once thought to be conventional wisdom about saving, investment, and retirement spending. How Persistent Low Returns Will Shape Saving and Retirement explores how the weak capital market performance predicted for the next several years will shape pension saving, investment, and decumulation plans. Academics, policymakers, and industry leaders debate alternative strategies to cope with these challenges globally, as economic growth remains slow and low returns become the 'new normal.' This volume includes contributions from plan sponsors, benefit specialists, actuaries, academics, regulators, and others working to design resilient pensions for the next decades. Together, they identify several new tools for retirement savers and pension managers.

Download or read book Public Policy Toward Pensions written by Sylvester J. Schieber and published by MIT Press. This book was released on 1997 with total page 360 pages. Available in PDF, EPUB and Kindle. Book excerpt: According to Schieber and Shoven, pension policy will emerge as one of the key economic issues of the next decade. This book provides a guide to the debate.Public and private pensions control almost a quarter of the United States' tangible wealth--equivalent to all of the country's residential real estate. They account for most current saving in the country, are a crucial component of household retirement resources, and have significant effects on labor market mobility and efficiency. Collectively, they hold a tremendous proportion of all common stock. The stock market has boomed during the past decade, as baby boomers have rapidly accumulated pension assets. Now economists are starting to wonder what will happen when the baby boomers retire. It is already clear that the Social Security system will require drastic changes to remain solvent. Will the stock market experience a similar meltdown as baby boomers withdraw their assets from pension plans? What policies might help to avoid such a crisis? According to Schieber and Shoven, pension policy will emerge as one of the key economic issues of the next decade. This book provides a guide to the debate. Topics include the impact of pensions on personal and national saving, the potential for a Pension Benefit Guarantee Corporation financial crisis, the dramatic growth in 401(k) plans, public sector plants, the prospects for adequate retirement income in the future, and recommended directions for pension policies. The book contains ten chapters, four written by Schieber and Shoven.ContributorsRobert Clark, Ping-Lung Hsin, Olivia Mitchell, James Poterba, Andrew Samwick, Jonathan Skinner, Steven Venti, Carolyn Weaver, David Wise, and Elisa Wolper.

Download or read book Die with Zero written by Bill Perkins and published by Houghton Mifflin. This book was released on 2020 with total page 243 pages. Available in PDF, EPUB and Kindle. Book excerpt: "A ... new philosophy and ... guide to getting the most out of your money--and out of life--for those who value memorable experiences as much as their earnings"--

Download or read book Retirement on the Rocks written by Christian E. Weller and published by Springer. This book was released on 2016-04-29 with total page 233 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the US, retirement savings are low while risk exposure is high, thus dooming many retirees to a low standard of living. This book offers straightforward solutions to build real retirement security for American families.

Download or read book Wealth After Work written by William G. Gale and published by Brookings Institution Press. This book was released on 2021-07-27 with total page 406 pages. Available in PDF, EPUB and Kindle. Book excerpt: Pensions and retirement saving plans have helped millions of households build financial security. But tens of millions of people have been left behind, without access to these wealth accumulation vehicles. For many others, the plans they have do not ensure financial security in retirement. The problems that underlie these failures can be addressed. This book proposes concrete, practical ways to make dependable retirement income accessible for all Americans—not just those with means. Individual accounts have eclipsed traditional pensions as the primary vehicle for retirement saving in the United States—a shift that underlies many sources of retirement insecurity. The 401(k) plan and similar accounts have increased financial security for many people but have done nothing for millions more. Many of those who do have such plans are burdened with the need to make numerous saving, investment, and withdrawal decisions that stress their financial acumen. Financial advice that is unbiased, unconflicted, and affordable is often difficult to find. Managing wealth in retirement—especially the need to convert retirement savings into steady income—poses significant challenges that current financial instruments and practices do not adequately address. Economic downturns like the Great Recession and the COVID-19 pandemic increase financial insecurity and make addressing these issues more urgent. Written by noted experts in the field, Wealth After Work offers practical solutions that address these concerns. The proposals show how policymakers can help all Americans gain access to retirement savings accounts, obtain better information about their savings choices, and better manage their wealth in retirement. By proposing solutions that build on, rather than replace the existing system, the book provides a nuanced, practical guide to reform that would benefit all Americans.

Download or read book Aging Gracefully written by Peter R. Orszag and published by . This book was released on 2006 with total page 164 pages. Available in PDF, EPUB and Kindle. Book excerpt: Aging Gracefully gathers a collection of essays that highlight policy ideas for promoting greater retirement savings among Americans. The essays were written as part of the Retirement Security Project, which is dedicated to promoting common sense solutions to improve the retirement income prospects of millions of American workers. The project is supported by The Pew Charitable Trusts, in partnership with Georgetown University's Public Policy Institute and the Brookings Institution. The essays included in this volume address issues such as: How an automatic 401(k) would encourage greater savings. How better structured 401(k) investments can reduce risks and increase growth. What impact the preferential tax treatment given IRAs and 401(k) plans has on low-income families. How IRA-contribution matching by employers can encourage low- and middle-income families to save more.

Download or read book From Here to Security How Workplace Savings Can Keep America s Promise written by Robert L. Reynolds and published by McGraw-Hill Education. This book was released on 2017-09-18 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt: *** A USA TODAY BESTSELLER*** The practical, nonpartisan guide to making our retirement savings systems work for America’s people, our economy, and the nation at large At a time of fierce political divisiveness, From Here to Security is a refreshingly balanced, non-ideological guide to solving what may be our nation’s most pressing policy challenge: achieving retirement security for all. A pioneer of the 401(k) system, Robert L. Reynolds eschews radical calls for throwing out the 401(k) entirely and creating a new government-run savings system. Our best course, he shows, is to build on what we have: a flexible, dynamic private-public system of Social Security and more robust workplace savings. From Here to Security provides a clear, powerful new approach to solving America’s retirement challenge – based on facts, data, and Reynolds’ decades of experience. While fear-mongers claim that the U.S. retirement system is on the verge of collapse; Reynolds shows why our system is actually the envy of the world. But From Here to Security is no status quo book. Reynolds lays out an action agenda to dramatically improve our retirement systems – public and private – lift our savings rate, improve people’s retirement prospects, spur faster growth – and reboot America’s national morale.

Download or read book Rescuing Retirement written by Teresa Ghilarducci and published by Columbia University Press. This book was released on 2018-01-23 with total page 177 pages. Available in PDF, EPUB and Kindle. Book excerpt: Retirement shouldn’t be just for the rich: “Finally, a practical plan to address Americans’ lack of adequate retirement savings.”—Michael Bloomberg Everyone deserves to be able to retire with dignity, but this core feature of the social contract is in jeopardy. Companies have swerved away from pensions, and most of the workforce has woefully inadequate retirement savings. If we don’t act to fix this broken system, rates of impoverishment for senior citizens threaten to skyrocket, and tens of millions of Americans reaching retirement age in the coming decades will be forced to delay retirement and will experience a dramatic drop in their standard of living. In Rescuing Retirement, economist Teresa Ghilarducci and billionaire businessman Tony James offer a comprehensive yet simple plan to help workers save for retirement, increase retirement savings by earning higher returns, and guarantee lifelong income for everyone. Built on people’s own money in individual Guaranteed Retirement Accounts, the plan requires no new taxes, no more bureaucracy, and no increase in the deficit. Speaking to Americans’ growing anxiety about their ability to retire, Rescuing Retirement provides answers to anyone wanting to understand the growing movement to protect a period of life once considered a deserved time of rest and creativity and offers a practical guide to the future of secure retirement. “Ghilarducci and James never slip into wonk-speak or jargon, and lay readers will appreciate the way the authors make sense of complex economic issues.”—Publishers Weekly

Download or read book Forced Saving written by Hazel Bateman and published by Cambridge University Press. This book was released on 2001-11-20 with total page 278 pages. Available in PDF, EPUB and Kindle. Book excerpt: Forced Saving, first published in 2001, offers an analysis of pension policy from an economic perspective. It begins with an overview of the problem of population ageing around the world, and then provides a framework within which policy responses may be consistently assessed. It focuses on the 'mandating' approach to retirement income policy, in which governments are compelling individuals - or their employers - to take on this responsibility, at least in part. The role of government becomes limited to one of mandating contributions from wages, along with regulating private fund managers to a greater or lesser extent. The authors explore the implications of introducing such a policy reform. They argue that while there is no universal agreement on the relative costs and benefits of this policy approach, there are often some advantages to moving at least some distance down the mandating path.

Download or read book Investment Strategies For Retirement written by Frank Nicolas and published by World Scientific. This book was released on 2019-01-02 with total page 416 pages. Available in PDF, EPUB and Kindle. Book excerpt: The issue of pension financing is evolving everywhere, becoming more of a corporate or individual matter rather than a state one. Demographic changes are making sharing mechanisms hard to control, and social deficits often lead governments to pull back from their obligations. This raises many questions for the individual:Despite the burden for securing one's retirement increasingly placed on individuals, many are often badly prepared to tackle this very long savings process, which is often complicated by the specific characteristics of a pension plan.This publication, intended for investment professionals, customer advisors, and individuals interested in personal finance and asset management, looks at some of the fundamental elements of investment strategies and techniques for retirement.

Download or read book Savings Fitness written by Barry Leonard and published by DIANE Publishing. This book was released on 2007-12 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: Many people mistakenly believe that Social Security (SS) will pay for all or most of their retire. needs, but the fact is, since its inception, SS has provided little protection. A comfortable retire. usually requires SS, pensions, personal savings & invest. The key tool for making a secure retire. a reality is financial planning. It will help clarify your retire. goals as well as other financial goals you want to ¿buy¿ along the way. It will show you how to manage your money so you can afford today¿s needs yet still fund tomorrow¿s. You¿ll learn how to save your money to make it work for you & how to protect it so it will be there when you need it. Explains how you can take the best advantage of retire. plans at work, & what to do if you¿re on your own. Illustrations.

Download or read book Retirement Savings Policy written by Michael P. Barry and published by Walter de Gruyter GmbH & Co KG. This book was released on 2018-09-10 with total page 273 pages. Available in PDF, EPUB and Kindle. Book excerpt: Mike brings to this work his comprehensive experience and consummate technical talent in a beautifully readable book. A treasure. --Frank Cummings, Former Adjunct Lecturer in Law at UVA Law School, Columbia Law School, NYU Law School, and ALI-ABA Retirement Savings Policy reviews the basic policies that govern retirement savings plans, and their real world application, focusing on the key issues of finance, taxation, fiduciary conduct, and employee choice. The discussion is framed around the three fundamental challenges confronting employers and employees today – the pension legacy, the 401(k) revolution, and the pressure, from policymakers, regulators, opinion leaders, and individuals, for changes that will put retirement security within reach of all Americans. With more than 40 years’ experience in the field, Michael P. Barry provides both a wealth of practical detail – best practices and concrete solutions – and a broad framework for understanding the issues surrounding retirement plans and strategies. The result is a comprehensive introduction to the forces that drive sponsor, participant, and policymaker decision-making. This is the perfect book for benefits and financial professionals who want a better understanding of the basic rules that govern retirement plan administration but also serves those interested in truly understanding the nuances and issues surrounding retirement plans and policies. The approach is practical, focusing on how US retirement plans actually work, how they are taxed (and not taxed), how they are regulated. But it is also conceptual, devoting considerable attention to an understanding of why these plans work the way they do. Why regulators and policymakers are so focused on a handful of issues – expanding coverage, reducing fees, fairness. And, at the highest level, what are the problems that we are trying to solve. As such, much of what we discuss will be of interest to a more general reader, who wants a realistic understanding of what is really at stake in current retirement policy debates.