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It’s well-known that low-income working Americans struggle to save for retirement and have less retirement income than middle-class and wealthy Americans. It shouldn’t be this difficult. The main goal in retirement planning is to achieve what the experts call an…
When pension benefits are cut, public employees and retirees are hurt. In the past decade, every state has made changes to its public pension systems, some more significant than others. Teachers, firefighters, and other public employees have been asked to…
As we discussed last week, the evidence continues to grow that 401(k)s and other defined contribution plans do not provide a secure retirement for working families. Despite this mounting evidence, some have pushed for more contributions to 401(k)-style plans, as…
Long time readers of Defined Benefit know that 401(k)-style defined contribution plans have largely failed working families. Defined contribution plans are a poor substitute for defined benefit pension plans and as the private sector has shifted from pensions to 401(k)s,…
A report released today finds that three-fourths of Americans- both Democrats and Republicans- are concerned about their ability to retire securely. Unfortunately, this lack of retirement preparedness affects some communities more profoundly than others. Black households earn significantly less income…
It’s increasingly obvious that there is a retirement savings crisis in the United States. At any given time, half of working Americans don’t have access to a retirement savings plan through their employer. Even workers who do have an employer-sponsored…
It’s the third week of October and that means it’s National Retirement Security Week! Formerly called “National Save for Retirement Week”, this week is intended to promote retirement savings to the American public. This week is established by a U.S.…
Welcome to the latest edition of This Week in Pensions! As we do each week, we have gathered the best stories about pensions and retirement security from the previous week. This is the news you need to know in the…
Welcome to the latest edition of This Week in Pensions! As we do each week, we have gathered the top stories about pensions and retirement security. This is the news you need to know in the fight for a secure…
Welcome to the latest edition of This Week in Pensions! As we do each week, we have gathered the best stories about pensions and retirement security. This is the news you need to know in the fight for a secure…
If you are a regular reader of Defined Benefit, then you already know that we don’t care for defined contribution plans like 401(k)s that have many failings when compared to traditional pensions. One of these failings is that they provide…
As we’ve written about extensively on this blog, employer-sponsored retirement plans have changed a lot over time. In the private sector, 401(k)s have largely replaced defined benefit pensions and this shift has weakened the retirement security of working families. 401(k)s…