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Welcome to the latest edition of This Week in Pensions! As we do most weeks, 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…
Women are more likely than men to be in poverty during retirement. There are multiple causes for this. Women live longer than men, so they simply have more years of retirement to finance. Also, women typically have less in retirement…
Last month the Board of Trustees for Social Security released their annual report on the program’s finances. Much of the information was the same as in previous years: the Social Security trust fund is projected to be exhausted in 2034.…
Retirement inequality is increasing in the United States and the age of retirement is one dimension of that inequality. While the overall average retirement age for Americans is increasing, that increase is not even across socio-economic status. Less educated workers…
Defined benefit pensions are the most secure form of retirement savings. This has been true for decades and is why cities and states have offered pensions to their public employees for more than a hundred years. Pensions also used to…
Retirement has long been a part of the American dream. Throughout the twentieth century, the belief was that after a lifetime of hard work, workers could retire and enjoy their golden years. When defined benefit pensions were still common in…
In a blog post last week, we discussed the fact that many Americans plan to work in retirement just to make ends meet. As we’ve mentioned before, though, many people won’t be able to continue working in retirement and may…
We’ve written about the growing retirement security crisis many times. We’re not the only ones to warn about it either. Back in October, the Government Accountability Office issued a significant report on the lack of retirement security for many working…
A Cost of Living Adjustment (COLA) is an occasional increase in the amount of a retiree’s or beneficiary’s pension payment in order to account for inflation. COLAs have been much discussed recently, in part because it has been so long…
Many times on this blog we’ve discussed the shift from defined benefit pensions to 401(k)-style defined contribution plans. While this transition has been most dramatic in the private sector, it is also occurring in the public sector. We’ve detailed how…
Women typically enter their golden years with less retirement income than men. According to a report last year from the National Institute on Retirement Security (NIRS), women are 80 percent more likely than men to be impoverished at age 65…
When most Americans begin to prepare for retirement, they count on Social Security to form the bedrock of their retirement savings. For millions of working families, Social Security is the key to retiring with dignity. However, a significant number of…