Re-Envisioning Retirement Security

Source: Monique Morrissey, Retirement USA, Conference Report, 2009

Even before the current recession, retirement income security had become a major national concern, as companies increasingly shifted from traditional pensions to do-it-yourself savings plans. Since the fall of 2008, the faltering stock market and dwindling 401(k) accounts have turned a major concern into a crisis, highlighting the weaknesses in our current system.

While each group involved in Retirement USA is actively working to strengthen current pension and 401(k) programs for today’s workers, they are convinced that it is critical to start now to lay the foundation for a new system to supplement Social Security.

By combining key elements of traditional pensions with those of 401(k)-type plans, and adding new ideas, the Retirement USA principles provide a framework for a system in which employers, workers, and the government share the responsibility for retirement income security.

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