How hard should we push the poor to save for retirement?

Andrew Biggs ()

AEI Economics Working Papers from American Enterprise Institute

Abstract: More than half of U.S. states are working to establish programs what would automatically enrollment in Individual Retirement Accounts (IRAs) workers who are not offered a retirement plan by their employer. But the designers of state-run auto-IRA plans fail to consider three questions: Do the poor need to save more for retirement? Will state-run auto-IRA plans increase net household savings? And, after accounting for interactions with means-tested government transfer programs, will state-run auto-IRA plans make the poor better off? The answer to all three questions may be “no.â€Â

Keywords: Retirement; savings; IRA; What to Do: Policy Recommendations on Entitlement Programs (search for similar items in EconPapers)
JEL-codes: A (search for similar items in EconPapers)
Date: 2017-07
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Citations: View citations in EconPapers (2)

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