Tag: measuring retirement income
Many of today’s workers will lack the resources to retire at traditional ages and maintain their standard of living in retirement. Solving this problem is a major challenge because risk and responsibility have shifted from government and employers to individuals. Falling Short provides a vivid picture of the coming retirement crisis and provides specific solutions…
The brief’s key findings are: Some claim that retirees are better off than many think, because Census’s Current Population Survey (CPS) does not capture most 401(k)/IRA income. Indeed, the CPS dramatically under-reports 401(k)/IRA income, a serious problem given the shift from defined benefit to defined contribution plans. Interestingly, though, the problem is largely concentrated among upper-income households, whic…
