Teresa Ghilarducci

Republicans Are Making a Huge New Push to Block Essential Retirement Security

On February 15, the U.S. House of Representatives voted 231-193—one Texas Democrat voted for and three Republicans voted against—to take a step backward on retirement security. And, in the first weeks of March, the Senate will take up the question of whether to rescind a late-in-the-game Obama Department of Labor rule—“Savings Arrangements Established by States for Non-Governmental Employees”—that provides legal support to cities and states that enacted or are considering plans to provide retirement accounts to private-sector workers, the majority of whom do not have a retirement plan at work.

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Senior Class: America's Unequal Retirement

Inequality has been increasing in multiple ways. But one little-appreciated form is the inequality of retirement time. That’s the number of years between retirement and death. It’s not surprising that divergent retirement time should reflect other forms of growing inequality. The poor have lower earnings and often work longer out of necessity, not choice. They are less likely to have decent pensions or private savings. On average, they suffer poorer health and tend to die younger. On all counts, the affluent get to enjoy more years of retirement in relative comfort.

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America's Growing Inequality Worsens In One's Senior Years

Inequality has been increasing in multiple ways. But one little-appreciated form is the inequality of retirement time.

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