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Copyright 2019

October 15, 2019

How can policymakers improve retirement security?

An elderly couple looks out at the ocean as they sit on a park bench in La Jolla, California November 13, 2013.   REUTERS/Mike Blake  (UNITED STATES - Tags: SOCIETY ENVIRONMENT) - GM1E9BE0E8L01

Summary

American workers, private- and public-sector alike, can no longer count on the old retirement model in which a combination of employer-provided pensions and federal entitlement programs ensure income into old age. Brookings Senior Fellow Martin Neil Baily argues that “the American middle class must take responsibility for funding its retirement and managing its assets to provide retirement security,” and offers a set of four policy ideas to help middle class workers achieve this.