February 2024
22Feb

The Government Pension Identity Crisis

By T. Leigh Anenson, J.D., LL.M., Ph.D. & Hannah R. Weiser, J.D., M.B.A. The Contract Clause once dominated the docket of the Supreme Court. But now the clause belongs to the museum of constitutional law. This artifact, however, is gaining new life in ongoing litigation over public pension reform that significantly impacts the financial benefits of government workers such as teachers, firefighters, and even judges. And, unlike private sector workers, for public servants there is no federal safety net in...

February 22, 2024
Articles, Pension design, , , ,
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November 2023
17Nov

Social Security Programs and Retirement around the World

By Axel Börsch-Supan & Courtney C. Coile This ninth phase of the International Social Security project, which studies the experiences of twelve developed countries, examines the effects of public pension reform on employment at older ages. In the past two decades, men’s labor force participation at older ages has increased, reversing a long-term pattern of decline; participation rates for older women have increased dramatically as well. While better health, more education, and changes in labor-supply behavior of married couples may...

November 17, 2023
Books, Books, Reports, System Characterization, , ,
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October 2023
03Oct

US. Just 17% of workers aged 50+ confident they can maintain a comfortable lifestyle in retirement: survey

Only 17 per cent of U.S. employees aged 50-plus and 23 per cent of retirees are very confident they’ll be able to maintain a comfortable lifestyle throughout retirement, according to a new survey by the Transamerica Center for Retirement Studies in collaboration with the Transamerica Institute. The survey, which polled more than 10,000 U.S. employees, found nearly a fifth (19 per cent) of retirees said they expect to primarily rely on income from an employer-sponsored pension plan, compared to just...

October 3, 2023
News,
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December 2022

Spending Trajectories after Age 65: Variation by Initial Wealth
20Dec

Spending Trajectories after Age 65: Variation by Initial Wealth

By: M Hurd & Susann Rohwedder   There has been extensive research on the importance of saving for retirement and on tools to support the accumulation of retirement wealth. Much less attention has been paid to the decumulation phase, that is, the spending down of wealth following retirement. Understanding the decumulation phase requires information about the spending patterns of older households and how those patterns evolve with age. This study uses comprehensive longitudinal data on total household spending from a survey...

December 20, 2022
Articles, Pension design, Savings, ,
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01Dec

2022 Natixis Global Retirement Index. Danger Zone. Global retirement security challenges come home to roost in 2022

By Natixis When we introduced the Natixis Global Retirement Index in 2012, the world had just emerged from the global financial crisis: Memories of market turmoil were still fresh. Inflation was low, but so was growth. Central banks had slashed interest rates to all-time lows. Balance sheets had ballooned from asset repurchase programs. And public debt had swelled to record highs around the globe. On top of it all, the first wave of the Baby Boom generation had just reached retirement...

December 1, 2022
Books, Books, Reports, System Characterization, , , ,
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September 2022
02Sep

The National Landscape of State Retirement Benefits

By Jonathan Moody, Anthony Randazzo Retirement security is ultimately about retirement income. Families and individuals want to know that during their retirement years they will have enough weekly, monthly, or annual income to live comfortably and meet their basic needs. Of course, many people aspire to more than just the basics. Ask even a handful of individuals about how they want to live in retirement, and you’ll hear a wide range of preferences. Expenses can vary from family-to-family, too, depending on housing, health...

September 2, 2022
Books, Books, System Sustainability, , , , ,
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02Sep

Homeownership and the Perception of Material Security in Old Age

By Claudius Garten, Michal Myck, Monika Oczkowska Homeownership has been shown to be related to various aspects of well-being, although both the causal nature of this relationship and the possible channels behind it have been difficult to identify. We focus on one of the most often quoted mechanisms which could be responsible for the positive effects of homeownership, namely its role in providing material security in old age. Using data from 15 European countries collected in wave 2 of the...

September 2, 2022
Aging, Articles, , ,
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02Sep

How Gloomy is the Retirement Outlook for Millennials?

By Karen Smith, Richard W. Johnson Social, economic, demographic, and public policy shifts have made Millennial retirement security a pressing concern. Many recent trends threaten financial security for future generations of retirees. Male labor force participation pre-age 55 has slumped, men’s median earnings have stagnated, marriage and homeownership rates are falling, debt levels remain high, and out-of-pocket spending on medical and long-term services and supports are rising. Other trends are more encouraging, such as women’s higher earnings, the rise in...

September 2, 2022
Articles, Labor Market, Savings, , ,
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