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A Universal Retirement Plan can Reduce Inequality and Prevent Downward Mobility

Siavash Radpour and Teresa Ghilarducci
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Teresa Ghilarducci: Schwartz Center for Economic Policy Analysis (SCEPA), https://www.economicpolicyresearch.org

No 2022-01, SCEPA policy note series. from Schwartz Center for Economic Policy Analysis (SCEPA), The New School

Abstract: Up to 40 percent of middle-income workers are at risk of downward mobility into poverty or near-poverty in retirement because of an inefficient retirement system that disproportionately benefits those with high incomes. Universal retirement accounts and providing workers with more equitable and better targeted tax incentives are among the best methods to supplement Social Security and prevent downward mobility in retirement.

Keywords: Universal retirement accounts; low-income; Workers; Jobs; Unemployment; Risk; Older workers; retirement income; retirement; retirement savings (search for similar items in EconPapers)
JEL-codes: E21 E24 I14 J32 J38 J62 J83 (search for similar items in EconPapers)
Pages: 7 pages
Date: 2022-12
New Economics Papers: this item is included in nep-age and nep-mfd
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