Morning Must-Read: Nick Bunker: The Future of Retirement Savings
Can we finally all admit that even though the defined-benefit pension system was inadequate the 401(k) system is worse? And that we need not a smaller but a larger Social Security system?
...on... participation.... The participation rate among working-age households... was close to 80 percent between 1989 and 2007. But... has dropped to... 75 percent.... [And] younger workers’ participation rate has fallen below the level of previous generations of young workers—today’s young workers aren’t saving as much younger workers in years past... [with] the biggest decline... among workers in the bottom half...
http://equitablegrowth.org/news/future-retirement-savings-great-recession/
