Type of Content: News
Resource Title: How the Shift Away from Traditional Pensions has Widened the Retirement Wealth Gap
Publication Title: Retirement Revised
Publish Date: January 23, 2020
Morrissey recently published a research brief focusing on ways that the shift away from traditional pensions, and toward 401ks, has increased the gaps in retirement readiness based on income, race, education and marital status. The brief makes its case through a series of charts based on Federal Reserve data, accompanied by commentary. It paints a troubling picture.
Morrissey argues that the shift away from pensions has been disastrous for low-income people, blacks, Hispanics and single workers, and people without college degrees. But more affluent households often don’t have adequate retirement savings or benefits either – and women are much more vulnerable in retirement due to their lower lifetime earnings and longer life expectancy.
Resource URL: https://bit.ly/38aMb9P