How Do Seniors in the Northeast Spend Their Money?

Over the past 25 years, the spending patterns of retirees (age 65 and over) have moved in response to increases (and falls) in the costs of goods and services, changes in retirement income and shifts in priorities. More seniors carry mortgage and credit card debt than in the past, but generally the economic well-being of seniors has improved, particularly in the area of discretionary spending. How have their spending habits changed?

Congressional Brief: Retirement Accounts

Private retirement accounts include employer-sponsored 401(k)s and 403(b)s, and privately-purchased plans like Individual Retirement Accounts (IRAs). Today, about 88 million people participate in one of these defined-contribution plans, with total assets of more than $4.5 trillion.

MyRA or the Highway?

The Obama administration directed the Treasury Department to establish a program of individual retirement savings accounts known as “MyRAs” beginning January 2015. MyRA accounts allow workers to save via payroll deductions.

The Momentum of Pension Reform in Wisconsin Must Be Extended to Health Insurance for Public Employees and Retirees

Many state and local public employee pension funds are struggling to make up large gaps in their funding — which cratered in the aftermath of the 2008-2009 recession. The one exception is Wisconsin, which, through responsible management of Wisconsin Retirement System (WRS) finances, has successfully maintained close to full funding of its retirement system since 2001.

Pension Plan Reform Testimony: NCPA

NCPA: Strengthening pension plans will require remedial legislation that focuses on long-term impacts, plus a bit of wisdom and courage, said NCPA Senior Fellow Brooks Hamilton in prepared testimony submitted before the House Ways & Means Subcommittee on Select Revenue Measures.

Social Security Reform Proposal Could Benefit Workers

NCPA: The federal government has two options if it wants to keep Social Security functioning, according to a new reportfrom the National Center for Policy Analysis (NCPA).  Since 2010, benefit payments have exceeded revenues, and the deficit is only growing, according to Liqun Liu and NCPA Senior Fellows Andrew J. Rettenmaier and Thomas R. Saving.