Tag: savings
Forty percent of U.S. private-sector workers in a 401(k) retirement plan are in plans with automatic enrollment, and the widely agreed-upon story is that these plans work well. Now comes a more nuanced assessment, which finds they aren’t working quite as well as everyone had hoped. The study, conducted by some of the pioneers in…
The formula for calculating Social Security benefits recognizes that it’s more difficult for lower-paid workers to afford retirement. Their future retirement benefits will replace a higher percentage of their earnings than, say, a corporate executive will receive. But workers in similar jobs who live in expensive coastal cities are at a disadvantage: steep housing costs…
