RESEARCH AND COMMENTARY
Robert C. Pozen, October 23, 2011, Financial Times
Robert Pozen explains the new Pooled Registered Pension Plans (PRPPs) being introduced to Canada's already strong retirement system. Pozen says that these PRPPs will go a long way towards increasing retirement security for millions of Canadians, but the program's success depends on a number of key design decisions. Read More
RESEARCH AND COMMENTARY
Robert C. Pozen and Theresa Hamacher, July 13, 2011, Pensions & Investments
The U.S. approach to funding retirement income has no parallel in the rest of the world and doesn't do enough to help American achieve financial security, argue Robert Pozen and Theresa Hamacher. Pozen and Hamacher argue for the adoption of best practices from other countries to make it easier for Americans to save for retirement. Read More
RESEARCH AND COMMENTARY
Douglas J. Elliott, May 12, 2011, The Brookings Institution
Douglas Elliott judges the positives and negatives of the potential policy options regarding the state and local pension funding crisis. Elliott examines the role, if any, that the federal government can play beyond pushing states and localities to face up to the issues. Read More
BOOK
Yasuyuki Fuchita, Richard J. Herring and Robert E. Litan, April 15, 2011
In Growing Old, the newest in a series of collaborations between the Brookings Institution and Japan's Nomura Institute for Capital Markets Research, top-flight economists and analysts dissect several key issues haunting pensions and retirement. Read More
RESEARCH AND COMMENTARY
Douglas J. Elliott, December 06, 2010, The Brookings Institution
With reports of policymakers possibly looking to set up a new federal bankruptcy regime that would allow states to restructure their finances and to pay less than they have promised to retirees, employees, bondholders, or other parties, Douglas Elliott says that we should be very careful in considering whether to proceed down this path. Elliott defines the problem and its size; what caused it; the legal obligation; why taxpayers should care; and discusses various options that could solve the problem, including the political difficulties of those policies. Read More
RESEARCH AND COMMENTARY
Robert C. Pozen, November 29, 2010, Pensions & Investments
Robert Pozen examines recent major trends in pension plan funding and investing, and notes the implications of these trends for both private and corporate pensions. Read More
RESEARCH AND COMMENTARY
Douglas J. Elliott, April 20, 2010, The Brookings Institution
State public pension funds have taken a hit in the recent financial crisis, like so many others. Unfortunately, according to Douglas Elliott, while things look bad now, with 25 percent losses in value since 2007, the future looks much worse because those funds are unlikely to hit their return targets. He says it’s time to face the music now and deal with the problem through higher contributions (which may mean higher taxes) or lower benefit accruals. Read More
RESEARCH AND COMMENTARY
Douglas J. Elliott, November 13, 2009, The Brookings Institution
The Pension Benefit Guaranty Corporation (PBGC), which protects the pensions of 44 million workers, announced a $22 billion deficit for fiscal year ending September 2009. Douglas Elliott analyzes the three main reasons for the PBGC’s financial troubles, and cautions that there are serious structural problems within PBGC that cannot be blamed on the financial crisis. Read More
VIDEO
Douglas J. Elliott, July 27, 2009
The Pension Benefit Guaranty Corporation ensures the retirement funds of nearly 44 million American workers and retirees, and now plans to assume responsibility for the pension plans of 70,000 GM workers. Lawmakers are concerned about PBGC's growing deficit, which has tripled to roughly $33.5 billion in six months. Douglas Elliott says they have good reason to be worried, given the current economy.
PAST EVENT
Thursday, July 16, 2009
10:00 AM to 12:00 PM
Washington, DC
On July 16, the Retirement Security Project and the Urban-Brookings Tax Policy Center hosted Australian Assistant Treasurer Nick Sherry, to discuss the Superannuation Guarantee- Australia's mandatory retirement savings system- and its relevance to American policy-makers. Read More
PAST EVENT
Friday, March 27, 2009
9:00 AM to 11:30 AM
Washington, DC
Thirty years of policies favoring private industry and the privatization of shared risks have rewritten the economic rules of the road for all Americans and complicated the task of planning for retirement. On March 27, the Brookings Institution and the Social Science Research Council (SSRC) hosted a forum exploring the effects of privatization on pension security and the ability of Americans to plan for old age. Read More
RESEARCH AND COMMENTARY
Henry J. Aaron, January 29, 2009, The Fiscal High Road
Despite criticism of the Social Security Act, and it's application to twenty fist century America, Henry Aaron believes that those views are wrong. In broad outline, he says, the system is sound, sensibly designed, and affordable though some changes are now desirable, and that others will, and should, be made as economic and political conditions warrant. But he urges, they should affirm and strengthen the system, not scale it back or repeal it. Read More
RESEARCH AND COMMENTARY
J. Mark Iwry and David C. John, July 16, 2008, Senate Special Committee on Aging
Fully half of America’s working families lack any employer-sponsored retirement savings plan. Testifying before a Senate panel, J. Mark Iwry and David C. John called for a common strategy to preserve and expand retirement savings in a manner that transcends partisan differences, an approach that includes preserving employer-sponsored retirement plans and broadening participation and coverage options. Read More
RESEARCH AND COMMENTARY
J. Mark Iwry and David C. John, June 26, 2008, House Committee on Ways and Means, Subcommittee on Select Revenue Measures
J. Mark Iwry and David C. John propose an automatic IRA approach which offers most employees not covered by an employee-sponsored retirement plan the opportunity to save through the powerful mechanism of regular payroll deposits that continue automatically. Read More
PAST EVENT
Thursday, June 05, 2008
9:30 AM to 12:00 PM
Washington, DC
Hurricanes, retirement, home-buying and tax-base erosion all pose financial risks. Yet markets to reduce these risks are elusive. The Hamilton Project at Brookings released papers at a discussion on how sound public policy can play a critical role in helping to foster new markets or expand existing markets in ways that could provide widely shared benefits. Read More