New state retirement plans are welcome, but why so expensive?

Next month, Oregon will become the first U.S. state to start automatically signing up workers to save for retirement if they do not already have a workplace 401(k). Eight other states are getting ready to launch state-sponsored auto-IRA programs, and it is an idea whose time has come. Fewer employees have access to workplace retirement […]

Will Republicans fund tax cuts by tapping retirement piggy bank?

Tax reform is up next for our Attention Deficit Disorder Republican government, which just rushed through a chaotic, ugly battle to reform our complex healthcare system. The fight over tax reform promises to be just as chaotic and ugly – and it could mean big changes for Americans saving for retirement. The Republican tax plan […]

Senate could aid retirement saving by doing nothing

At the risk of stating the obvious: People are much more likely to save for retirement when they can do it automatically at work. How much more likely? Ten times, according to a study released this week. But someone apparently forgot to tell U.S. Congress and the White House, because both are moving to block […]

Grading Obama’s performance on retirement and aging issues

In his farewell address last week, President Barack Obama quoted something his mother used to tell him: “Reality has a way of catching up with you.” Here is one reality that really is catching up with us: as a nation, we are getting older quickly. The U.S. population over age 65 will nearly double by […]

How part-time work hurts retirement security for millennials, minorities

The Great Recession took any number of wrecking balls to the retirement security of American workers, including wages and pension benefits, home equity and savings. But one of the less understood areas of hurt continues to this day: part-time work. The recession pushed the U.S. part-time labor force to 20.1 percent in January 2010 from […]

Five ways to improve retirement math when you haven’t saved

A large segment of American workers are approaching retirement with very little or nothing saved: Among workers age 55 or higher and nearing retirement, 48 percent have saved less than $100,000, according to the Employee Benefit Research Institute. A third have less than $25,000. The savings shortfall means many Americans face the prospect of retiring […]

Is a mandatory U.S. retirement saving plan in your future?

Make a list of the most toxic words in American politics, and “employer mandate” certainly would be in the top 10. Requiring employers to provide health insurance to workers is one of the most controversial features of the Affordable Care Act – along with the requirement that individuals buy insurance. But a mandatory retirement savings […]

How the little-known Saver’s Credit could work better for low-income workers

It sounds too good to be true: some workers can get a double tax benefit by saving for retirement. But the federal Saver’s Credit does just that by providing a second layer of tax incentives for lower-income households beyond the benefit of tax deferral that everyone receives for contributing to a 401(k) or IRA. The […]

How gender pay gap haunts women even in retirement

The gender pay gap is a hot topic in the presidential campaign, and President Barack Obama has been hammering on it, too. Women who work full-time, year-round, made just 79 cents for every dollar paid to their male counterparts in 2014, U.S. Census Bureau data shows. But the injustice of the gender pay gap also […]

Pages: 1 2

When not to save for retirement

Everyone should save for retirement – that is a mantra we have all heard endlessly. But for many people, saving for retirement actually should be fairly low on the financial priority list – well behind the more immediate goals of building a rainy day fund and reducing their consumer debt. That is evident in new […]