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Innovations in Protecting the Old: Mostly Social Insurance and Some Assets

Teresa Ghilarducci ()

No 2016-05, SCEPA working paper series. from Schwartz Center for Economic Policy Analysis (SCEPA), The New School

Abstract: For the first time in two generations, there's a growing risk of being poor or near poor in old age because the U.S. pension system has failed. The U.S. pension system is based on a threelayered pyramid, with Social Security on the bottom, employment-based retirement plans in the middle, and personal assets at the top. The second layer has collapsed over the last 35 years as employer-based pensions have shifted years to “do-it-yourself†financial-based accounts anchored in individual asset-building.

Keywords: Social Security; Inequality; Policy (search for similar items in EconPapers)
JEL-codes: H5 I14 I2 (search for similar items in EconPapers)
Pages: 20 pages
Date: 2016-06
New Economics Papers: this item is included in nep-age, nep-ias and nep-rmg
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Working Paper: Innovations in Protecting the Old: Mostly Social Insurance and Some Assets (2017) Downloads
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