Chartbook: Retirement Insecurity and Falling Bargaining Power

Retirement Equity Lab
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Retirement Equity Lab: Schwartz Center for Economic Policy Analysis (SCEPA), https://www.economicpolicyresearch.org

No 2020-03, SCEPA publication series. from Schwartz Center for Economic Policy Analysis (SCEPA), The New School

Abstract: An examination of the state of the retirement system and savings in 2020 reveals, if we do nothing to fix our retirement system, 43 million people now in their fifties and early sixties will be poor or near-poor elders, owing to both the recession and to inadequate retirement plans.1 Widespread retirement insecurity weakens older workers' bargaining power. Without a solid fallback plan, older workers must accept whatever wages are offered. This chartbook is a resource for workers, employers, media, policymakers, scholars, and the broader public, to answer questions about the state of older working America and retirement income security.

Keywords: older workers; recession; COVID-19; downward mobility; poverty; unemployment; wages; savings; involuntary retirement; social security; retirement system; 401k (search for similar items in EconPapers)
JEL-codes: E24 J30 J38 J58 J60 J88 (search for similar items in EconPapers)
Date: 2020-07
New Economics Papers: this item is included in nep-age, nep-dem and nep-mac
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