Social Security Reduces Retirement Wealth Inequality

Teresa Ghilarducci, Siavash Radpour and Anthony Webb (tonywebb10014@gmail.com)

No 2020-01, SCEPA policy note series. from Schwartz Center for Economic Policy Analysis (SCEPA), The New School

Abstract: Social Security benefits are progressive and offset the unequal distribution of retirement wealth generated by a broken employer-based retirement system. Though Social Security benefits keep retirees out of poverty, American workers still face a retirement income crisis. Policymakers need to strengthen and expand Social Security and mandate employer-sponsored retirement plans to ensure universal coverage and adequate retirement income.

Keywords: Social Security; Retirement; Wealth; Income; Older Workers (search for similar items in EconPapers)
JEL-codes: D63 E21 H55 J26 J32 (search for similar items in EconPapers)
Pages: 6 pages
Date: 2020-01
New Economics Papers: this item is included in nep-age, nep-ias and nep-mac
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