June 2022
21Jun

US. Senate Version of SECURE 2.0 Set to Move Forward

The Senate version of SECURE 2.0, titled the “Enhancing American Retirement Now (EARN) Act,” is scheduled for mark up Wednesday morning. The news comes two weeks after Senators Patty Murray, D-Wash., and Richard Burr, R-N.C., introduced a SECURE 2.0-like bill titled the “Retirement Improvement and Savings Enhancement to Supplement Healthy Investments for the Nest Egg (RISE & SHINE) Act.” “Americans deserve dignified retirements after decades of hard work, and our bill is an important step forward,” Senate Finance Committee Chair Ron...

June 21, 2022
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03Jun

Gay, gray, black, and blue: An examination of some of the challenges faced by older LGBTQ people of color

By Seon Kum Few studies exist that highlight the life experiences of the older LGBTQ person of color. This cohort faces unique challenges in life that have not been explored or investigated extensively, if at all. Older LGBTQ people of color have experienced discrimination based on race, gender, and sexuality in all phases of their lives, often bearing witness to and helping to start various equal rights and social justice movements. In addition to the unique challenges that come with...

June 3, 2022
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03Jun

Markets and Mandates: Retirement in Chile and the United States

By Manisha Padi Ordinary Americans are accustomed to a strict separation between private markets and public-benefits programs. Government programs, such as Social Security for retirees, disburse benefits to households without regard to the private options available to them. Conversely, private-market regulators, including the Securities and Exchange Commission, make rules about private retirement savings without accounting for public retirement benefits. The result is a disjointed experience for American retirees, whose public benefits are restricted by the Social Security Administration but whose...

June 3, 2022
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03Jun

Priorities for social security. Trends, challenges and solutions

By Issa The International Social Security Association (ISSA) draws its value, strength and dynamism from a global membership of national institutions that administer the main social security programmes of their countries. This gives the Association a unique and privileged vantage point from which to analyse key policy issues and emerging challenges in social security, and the many innovative responses and creative solutions to these. For its 2020–2022 Programme and Budget, the ISSA defined four priority areas to be addressed during the...

June 3, 2022
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03Jun

How the U.S. retirement system shortchanges the middle class

America has a vast and elaborate system of public policies supposedly designed to help us all save for retirement and avoid the catastrophe of a penurious and poverty-stricken old age. But does this system end up shortchanging the middle class that is the backbone of the country and the economy? That’s the accusation of a new report from the National Institute for Retirement Security, a nonpartisan think-tank. It’s hard to argue they’re wrong. Read also Governance Issues Loom Over US Pension...

June 3, 2022
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May 2022
26May

The National Landscape of State Retirement Benefits. How Good Are Public Retirement Systems at Putting Employees on a Path to Retirement Income Security?

By Jonathan Moody & Anthony Randazzo  Retirement security is ultimately about retirement income. Families and individuals want to know that during their retirement years they will have enough weekly, monthly, or annual income to live comfortably and meet their basic needs. Of course, many people aspire to more than just the basics. Ask even a handful of individuals about how they want to live in retirement, and you’ll hear a wide range of preferences. Expenses can vary from family-to-family, too,...

May 26, 2022
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Progressing Towards Efficiency: The Role for Labor Tax Progression in Reforming Social Security
19May

Progressing Towards Efficiency: The Role for Labor Tax Progression in Reforming Social Security

By Krzysztof Makarski, Joanna Tyrowicz & Oliwia Komada We study interactions between progressive labor taxation and social security reform. Increasing longevity puts fiscal strain that necessitates the social security reform. The current social security is redistributive, thus providing (at least partial) insurance against idiosyncratic income shocks, but at the expense of labor supply distortions. A reform which links pensions to individual incomes reduces distortions associated with social security contributions, but incurs insurance loss. We show that the progressive labor tax...

May 19, 2022
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19May

The 2022 Pension Answer Book

By Stephen J. Krass A standard in its field, The 2022 Pension Answer Book discusses in detail the full spectrum of pension topics—from qualification requirements to taxation of distributions, from minimum distribution requirements to 401(k) plans. It covers the most up-to-date and significant legislative, regulatory, and case law developments affecting these plans. As a decision-making tool, combining theory and practice-based guidance, The 2022 Pension Answer Book offers insight and clarification on the critical issues affecting pension administration and compliance. In...

May 19, 2022
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What Share of Noncovered Public Employees Will Earn Benefits that Fall Short of Social Security?
12May

What Share of Noncovered Public Employees Will Earn Benefits that Fall Short of Social Security?

By Jean-Pierre Aubry, Siyan Liu, Alicia H. Munnell, Laura Quinby & Glenn Springstead Social Security is designed to serve as the base of retirement support, to be supplemented by employer-sponsored plans. However, approximately one-quarter of state and local government employees – currently, around 5 million workers annually – are not covered by Social Security on their current job. Federal law allows these noncovered workers to remain outside of Social Security if their state or local plan provides comparable benefits. Since...

May 12, 2022
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06May

Malta. Pensions drive up social security spending that hits €322 million mark in first three months

Expenditure on social security benefits in the first three months totalled €322 million, an increase of €65.8 million over the same quarter last year. The increase was almost all due to contributory expenditure, in particular pensions. The additional expenditure is five times higher than the increase in social security benefits in the first quarter between 2021 and 2020. The National Statistics Office said contributory expenditure increased by €66 million, while non-contributory outlay fell marginally by €0.3 million. Pensions in respect of retirement...

May 6, 2022
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