The Retirement Challenge What’s Wrong with America’s System and A Sensible Way to Fix It 1st edition by Martin Neil Baily, Benjamin Harris 0197639290 9780197639290

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Product details:

ISBN-10 :  0197639290 

ISBN-13 : 9780197639290

Author : Martin Neil Baily, Benjamin H. Harris 

America’s retirement system has serious problems. While it works well for some retirees, millions of others don’t have the sound retirement they have worked decades to secure. Roughly 40 percent of today’s $4 trillion federal budget is devoted to supporting retirees, which will grow to roughly half over the next decade–imperiling the sustainability of the whole system.

The system is out of date. It reflects the America of a bygone age–an era in which company or union pensions provided middle-class families a decent standard of living in retirement. In America today, however, private pensions have mostly disappeared, Social Security is threatened to go insolvent, people are living longer, and health care costs continue to rise. Poorer retirees now must choose between buying enough to eat and their prescription drugs.

The Retirement Challenge: What’s Wrong with America’s System and A Sensible Way to Fix It 1st Table of contents:

1. Overview
Retirement: From Whence It Came
Needed: A New Paradigm for Retirement
The Agenda for Families, Companies, and Policymakers
We Can Do This
2. Retirement: How Are We Doing?
Defined-Benefit Pensions and Defined Contribution (401(K)-Type) Plans
Assessing How Well Americans Are Prepared for Retirement
The Critical Role of Uncertainty
Summing Up
3. Retirement and Economic Growth
The Impact of Slow Economic Growth on Retirement Policies and Decisions
The Potential Impact of Retirement Saving on Economic Growth
Strong Economic Growth Has Been Elusive
Investment Benefits Both Workers and the Economy
Funding and Investment Increase
4. Entitlements: The Cornerstone of Retirement
Social Security
Medicare and Medicaid
Trust Fund Woes
Entitlements in the Larger Budget Discussion
Worrying, or Not, About Deficits and Debt
What’s to Come for Entitlement Programs
5. Working Longer
How Do People Decide When to Retire?
Are People Making Good Retirement Decisions?
How Much Are Adults Working, and Why?
Do Changing Incentives Help Explain the Labor Force Trends of Older Workers?
Making the Right Retirement Decisions
6. Why Is Saving So Hard?
Barriers to Saving
Unequal Tax Breaks for Saving
7. Transitioning to Retirement in a Changing Labor Market
Part-Time Work Among Older Workers
Paths to Retirement
Self-Employment at Older Ages
Can Internet Platforms Help Older People Find Work?
Older Workers Must Understand the Changing Labor Market
Can Phased Retirement Improve Health?
8. How Annuities Can Mitigate Uncertainty and Improve Retirement
Annuity Products
Economists Value Annuities; Consumers Do Not
Behavioral Biases Against Annuities
Longevity Annuities
The Tax Implications
9. How Are Families Planning for End-of-Life Care?
Long-Term Care and the Population That Needs It
Long-Term Care: Its Costs and Financing
Market Failures and Distortions
Toward Solutions
10. Reverse Mortgages
The Reverse Mortgage Market
The HECM Program
The Reverse Mortgage Market over Time
Reverse Mortgages: Pros and Cons
11. How to Improve Retirement Accounts
A Retirement Account Vision
Reforms to Improve Retirement Accounts
The Need for Action
12. Improving Opportunities for Older Workers
Financial Incentives to Work Longer
Changing Attitudes Toward Retirement, Older Worker Productivity
Strengthen Age Discrimination Protections
Retrain Older Workers
13. Reforming Private Insurance Markets
Why Reform Private Insurance Markets?
Reverse Mortgages
Annuities
Long-Term Care
14. A Vision for a New Retirement Paradigm
The Most Important Steps to Improve Retirement
Why Alternative Proposals Will Not Work
Why Our Vision for Retirement Should Prevail

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Tags: The Retirement Challenge, America, Sensible Way, Martin Neil Baily, Benjamin Harris