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Wealth After Work
Innovative Reforms to Expand Retirement Security
Editors:
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Publisher:
2021
Summary
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 Americansnot just those with means.
Individual accounts have eclipsed traditional pensions as the primary vehicle for retirement saving in the United Statesa 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 retirementespecially the need to convert retirement savings into steady incomeposes 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.
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Bibliographic data
Copyright year
2021
ISBN-Print
978-0-8157-3934-0
ISBN-Online
978-0-8157-3935-7
Publisher
Rowman & Littlefield, Lanham
Language
English
Pages
backcover1
Product type
Edited Book
Table of contents
ChapterPages
Table of Contents No access
Preface No access
Introduction No access Pages 1 - 10
How Will Retirement Saving Change by 2050? Prospects for the Millennial Generation No access Pages 11 - 46
Changing Wealth Accumulation Patterns: Evidence and Determinants No access Pages 47 - 72
How Does Gender Equality Affect Women in Retirement? No access Pages 73 - 81
A Retirement Dashboard for the United States No access Pages 82 - 115
Retirement Plans for Contingent Workers: Issues and Options No access Pages 116 - 134
Supplemental Transitions Accounts for Retirement: A Proposal to Increase Retirement Income Security and Reform Social Security No access Pages 135 - 157
State-Sponsored Retirement Saving Plans: New Approaches to Boost Retirement Plan Coverage No access Pages 158 - 181
Structuring State Retirement Saving Plans: A Guide to Policy Design and Management Issues No access Pages 182 - 202
Public Pensions in Flux: How the Federal Government's Experiences Can Inform State Responses No access Pages 203 - 229
You Get What You Pay For: Guaranteed Returns in Retirement Saving Accounts No access Pages 230 - 254
From Saving to Spending: A Proposal to Convert Retirement Account Balances into Automatic and Flexible Income No access Pages 255 - 283
When Income Is the Outcome: Reducing Regulatory Obstacles to Annuities in 401(k) Plans No access Pages 284 - 331
Retirement Tontines: Using a Classical Finance Mechanism as an Alternative Source of Retirement Income No access Pages 332 - 364
