Pension Reform in the United States: Lessons from the Italian Experience

Source: Raymond L. Hogler and Herbert Hunt III, Labor Law Journal, Spring 2008

This article examines the Italian pension reforms and draws insights from the Italian experience that could be useful in developing a program in the U.S. We argue that both process and substance are important in dealing with pension issues. An adequate process ensures that political interest groups are sufficiently engaged to support the idea of reform, that a sufficient time frame exists for citizens to adapt to the changes, and that the overall direction of change remains consistent with reform, even if minor adjustments are made in the implementation. The substantive concepts from the Italian model involve a compulsory private savings program, an integrated approach to health care, and a political commitment forceful and visionary enough to rise above ideological squabbling.

Leave a Reply