EconPapers    
Economics at your fingertips  
 

“Catch-Up Contributions†An Equitable and Affordable Solution to the Retirement Savings Crisis

Teresa Ghilarducci (), Michael Papadopoulos, Wei Sun and Anthony Webb ()
Authors registered in the RePEc Author Service: Armon Rezai

No 2017-02, SCEPA working paper series. from Schwartz Center for Economic Policy Analysis (SCEPA), The New School

Abstract: This research was performed pursuant to a grant from the AARP Innovation Challenge. To address the needs of two overlapping groups – low and moderate wage workers and workers in their 50s with no or inadequate retirement wealth – we propose a program of cost-neutral voluntary (at least initially) Social Security catch-up contributions, into which all workers would be defaulted, starting at age 40 or 50. The program would use the progressivity of the Social Security benefit formula to target low-wage workers and to prevent adverse selection.

Keywords: Social Security; retirement savings; retirement wealth inequality (search for similar items in EconPapers)
JEL-codes: D15 H55 J26 (search for similar items in EconPapers)
Date: 2017-05
New Economics Papers: this item is included in nep-age and nep-pbe
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2) Track citations by RSS feed

Downloads: (external link)
http://www.economicpolicyresearch.org/media/k2/att ... ntributionsZAARP.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:epa:cepawp:2017-09

Access Statistics for this paper

More papers in SCEPA working paper series. from Schwartz Center for Economic Policy Analysis (SCEPA), The New School Contact information at EDIRC.
Bibliographic data for series maintained by Bridget Fisher ().

 
Page updated 2021-10-16
Handle: RePEc:epa:cepawp:2017-09