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Institutional Investor (March 1)

2018/ 03/ 04 by jd in Global News

New York City “is aiming for full divestment of coal, oil, and gas from its $189 billion retirement system–but could get sued in the process” if such a move is deemed contrary to fiduciary duty. If they successfully divest the roughly $5 billion in assets linked to fossil fuel, however, “New York’s pension funds would be the first major U.S. retirement system to rid itself of fossil fuels.”

 

Washington Post (May 11)

2016/ 05/ 12 by jd in Global News

“Older people today seem as healthy as people who were several years younger a few decades ago. So why shouldn’t they work the same way, too?” In the U.S., the eligibility age for full social security benefits is scheduled to increase to 67 over the next decade, but a recent study suggests eligibility could reasonably be moved even higher “to somewhere between 68 and 70.”

 

Institutional Investor (January 10)

2016/ 01/ 11 by jd in Global News

“Even among those who are years from retirement, concerns about being able to retire are more widespread than worries about job loss, health care, or inequality.” Yet, during the past decade, “officials in Washington have done little except wring their hands and make speeches” on retirement insecurity. There are now indications that, however, they may finally more to address “this most widespread form of economic insecurity.”

 

Institutional Investor (July 20)

2015/ 07/ 21 by jd in Global News

With social security on track to run dry in the U.S. by 2033, members of Generation X (born from 1965-1981) are taking an overwhelmingly self-reliant view toward retirement: 65% don’t expect any inheritance, pension or social security payments. “Gen Xers’ woes are increasingly shared by Millennials as they age. Like Millennials, Gen Xers tended to marry later and delay having children. Perhaps Gen Xers’ experiences with retirement planning—dominated by the sense that it is an insurmountable task—will serve as a proxy for how the younger and larger Millennial generation will fare.”

 

The Economist (April 11)

2015/ 04/ 12 by jd in Global News

“Radical measures are needed” in Japan. These “will have to include getting elderly Japanese to pay more for their medical care. A health system that keeps too many people in hospital beds for too long needs to be overhauled. And the retirement age needs to be increased further.”

 

The Economist (June 21)

2014/ 06/ 22 by jd in Global News

“Since time immemorial, Chinese children have been expected to take care of their aged parents—but rising incomes and shifting norms are changing things.” Retirement homes, some quite stylish, may prove the wave of the future in China.

 

Wall Street Journal (March 11)

2014/ 03/ 12 by jd in Global News

Japan may be at the leading edge, but population graying is a truly global phenomenon requiring new approaches. “As the over-60 population grows much faster than the younger working-age cohorts, while life expectancy increases, the 20th-century model of work and retirement becomes increasingly unsuitable for economic growth. The key will be finding new solutions to engage older Americans in the workforce.”

 

 

New York Times (February 5, 2014)

2014/ 02/ 06 by jd in Global News

Recent estimates credit the Affordable Care Act with unchaining 2.5 million people from their jobs over the ensuing decade. “The new law will free people, young and old, to pursue careers or retirement without having to worry about health coverage. Workers can seek positions they are most qualified for and will no longer need to feel locked into a job they don’t like because they need insurance for themselves or their families.”

 

Wall Street Journal (June 2)

2013/ 06/ 03 by jd in Global News

“As some 75 million baby boomers prepare to retire, immigrants will be crucial to keeping the federal pension program afloat.” Without immigration, the U.S. social security program faces an estimated 75-year social security shortfall of over $8.5 trillion (net present value). “Immigration won’t solve all of Social Security’s financial problems…. But immigrants unquestionably narrow the funding gap. More generous immigration is a wise step toward solving the entitlement crisis in Washington.”

 

New York Times (June 19)

2011/ 06/ 20 by jd in Global News

Most politicians worry about “saving” social security. The best solution might be “raising” it. Social security currently pays out 39% “of the average worker’s preretirement earnings,” but this could be raised to 50%. Why? Nearly 34% of “Americans have nothing saved for retirement — not even a hundred bucks.”

 

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