June 2024
28Jun

Retirement Guide For LGBTQ Americans

By John Schmidt & Benjamin Curry Heterosexual Americans have historically made more on average than their LGBTQ+ counterparts. But some studies suggest that the income gap has disappeared. In recent years, gay men have been earning 10% more than straight men with similar education, experience, and job profiles. Same-sex married couples have a higher median household income than opposite-sex married couples, according to the U.S. Census Bureau data. But the issue is more nuanced than these broad statistics suggest. Source Forbes 

June 28, 2024
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21Jun

How planning for LGBT retirement differs

By UBS Wealth Management  The U.S. Supreme Court’s landmark decision on same-sex marriage in 2015 made marriage equality the law of the land, giving same-sex partners spousal inheritance rights, survivor social security, tax credits, second-parent adoption rights and other benefits accrued to married couples. Yet as momentous as that decision was, “the right to get married doesn’t fix all the other problems out there,” says David Mietty, Wealth Management Consultant at UBS. He notes, individuals may still encounter workplace and housing...

June 21, 2024
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14Jun

Retirement Confidence Survey and the LGBTQ Community

By Craig Copeland (Employee Benefit Research Institute) & Lisa Greenwald (Greenwald Research) The Retirement Confidence Survey (RCS) was conducted for its 32nd year in 2022 to measure attitudes of American workers and retirees about issues surrounding retirement. For the first time, in 2022, the RCS included an oversample of LGBTQ Americans to allow for an analysis of the challenges that LGBTQ workers and retirees face in preparing for and living in retirement. Questions included in this year’s survey explore priorities...

June 14, 2024
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07Jun

A Wealth of Well-Being: A Holistic Approach to Behavioral Finance

By Meir Statman I often note that the biggest risks in life are not in the stock market. If you want real risk, I say, get married. And if you want more risk, have children. People laugh, because the point is obvious. Yet that point is regularly lost when we speak about financial well-being, neglecting life well-being. I was motivated to write my book, “A Wealth of Well-Being, by reflecting on my own financial and life well-being and those of...

June 7, 2024
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May 2024
31May

Improving Pension Information: Experimental Evidence on Learning Using Online Resources

By Denise Laroze, Charles Noussair, Gabriela Fajardo, Ximena Quintanilla, Paulina Granados, Pedro Vallette & Mauricio López Tapia When planning for retirement, deciding what to do with one's pension funds is a high-stakes, one-shot decision. It is often described in technical jargon that few people understand. Not surprisingly, individuals find the pension selection process stressful. As a consequence, many pay for advice or miss out on benefits they are eligible for because of the opacity of the retirement process. We consider...

May 31, 2024
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31May

Intergenerational risk sharing in pay-as-you-go pension schemes

By Helene Morsomme, Jennifer Alonso García & Pierre Devolder Population ageing undermines traditional social security pension systems that combine pay-as-you-go (PAYG) and defined benefits (DB). Indeed, demographic risk, if guaranteed benefits remain unaltered, will be borne entirely by workers through increases in the contribution rate. To avoid a substantial increase of the contributions and in order to maintain simultaneously the financial sustainability and the social adequacy of the public pension system, risk sharing and automatic balancing mechanisms need to be...

May 31, 2024
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17May

The Incidence of Workplace Pensions: Evidence from the Uk’s Automatic Enrollment Mandate

By Rachel Scarfe, Daniel Schaefer & Tomasz Sulka We examine who bears the costs of mandated workplace pension programs, exploiting the quasi-experimental rollout of automatic enrollment in the UK. Total compensation (take-home pay plus employer contributions) increases, driven by employer contributions, while the amount of take-home pay decreases. These effects differ by employer size, with take-home pay declining to an extent in the largest firms that we can rule out a pass-through to employees of more than 47%, significantly less...

May 17, 2024
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10May

Policy Ideas for Boosting Defined Benefit Pensions In The Private Sector

By Dan Doonan, John Lowell, Jonathan Price, Michael Kreps, Tyler Bond & Zorast Wadia In response to a request for information issued by the U.S. Senate Health, Education, Labor, and Pensions (HELP) Committee, the National Institute on Retirement Security has submitted a research issue brief with policy ideas to help expand defined benefit (DB) pension coverage for private-sector employees. The research brief, Policy Ideas for Boosting Defined Benefit Pensions In The Private Sector, details six options  for Congress to consider to...

May 10, 2024
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10May

Intergenerational redistribution in a pay-as-you-go pension system

By Jacob Lundberg This study provides a comprehensive analysis of the generational wealth transfer within Sweden’s public pay-as-you-go pension system introduced in 1960. Using extensive administrative registers, the paper quantifies the contributions made and benefits received by each birth cohort. The findings reveal a substantial fiscal imbalance favouring the initial generation (born in the early 20th century), who received a net gain of $1.5 trillion in today’s present value, equivalent to up to 13% of their discounted lifetime income. This...

May 10, 2024
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03May

Pensioen SPECULOOS: Lessons from Brazil for Belgium

By Arun Muralidhar A commonly-accepted retirement goal for a healthy pension is for it to sustain the relatively higher standard-of-living of the latter part of one’s working life throughout retirement. A recent innovation implemented by Brazil in January 2023 might provide a solution to the pension challenges faced by Belgium, and more importantly, satisfy the key goals identified by Belgium Government. We recommend Belgium create and issue an innovative new bond – SPECial ULtra-long Obligatie (PensiOen) Salarisstook (SPECULOOS), known previously...

May 3, 2024
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