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The Impact of Guaranteed Retirement Accounts on the Retirement Crisis

Teresa Ghilarducci, Michael Papadopoulos and Anthony Webb ()

No 2018-05, SCEPA policy note series. from Schwartz Center for Economic Policy Analysis (SCEPA), The New School

Abstract: Guaranteed Retirement Accounts (GRAs), proposed in the 2018 book Rescuing Retirement by Teresa Ghilarducci and Tony James, are universal individual accounts funded throughout a worker’s career by employer and employee contributions and a refundable tax credit. If GRAs were implemented in 2018, 1.5 million seniors would be saved from poverty or near poverty by 2025. This increases to 3.6 million seniors by 2035 and 8.1 million seniors by 2045.

Keywords: Retirement; savings; Pension; Retirement Plans; Benefits; Poverty (search for similar items in EconPapers)
JEL-codes: D63 E21 H55 J26 J32 (search for similar items in EconPapers)
Pages: 6 pages
Date: 2018-08
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