Summary: When I'm Sixty-Four E-Book

BusinessNews Publishing

• Herausgeber: Political Book Summaries
• Kategorie: Fachliteratur
• Sprache: Englisch

Seitenzahl: 20

Veröffentlichungsjahr: 2017

Beschreibung

The must-read summary of Teresa Ghilarducci's book: “When I'm Sixty-Four: The Plot Against Pensions and the Plan to Save Them”.

This complete summary of "When I'm Sixty-Four" by Teresa Ghilarducci, a prominent labor economist and commentator on retirement and pension issues, presents the author's examination of the problems that arise from the insecurity of retirement income. She addresses various ways of rescuing the pension system.

Added-value of this summary:
• Save time
• Understand pensions and retirement in the US
• Expand your knowledge of American politics and society

To learn more, read "When I'm Sixty-Four" and discover the author's proposed reforms to the pension system to the benefit of many people.

Leseprobe

Book Presentation: When I’m Sixty-Four by Teresa Ghilarducci

Book Abstract

In 1951, most men of retirement age were working and if they weren’t, they were unemployed or unemployable; less than 5% were “retired” in the sense we know of it today. Currently, more than 60% of older Americans choose to retire because they prefer free time to paid work. Making retirement available to almost all workers is a great achievement of a robust market economy. Yet, conflict still exists over who is entitled to pensions and how generous they should be. When I’m Sixty-Four asks the question: who loses and who wins if and when pension income becomes less secure and the elderly work more as a result? It also examines the sources of retirement income, the distribution of retirement time, and ways to rescue the pension system.

About the Author

Teresa Ghilarducci taught economics at the University of Notre Dame for more than 25 years. She now holds the Irene and Bernard L. Schwartz Chair of Economic Policy Analysis at the New School for Social Research, and is the 2006-2008 Wurf Fellow at Harvard Law School. She is also the author of Labor’s Capital.

Summary of When I’m Sixty-Four (Teresa Ghilarducci)

Hope for Retirement’s Future

Today, half of the country’s private sector workforce is offered a pension plan, usually a defined contribution (DC) 401(k)-type individual account while public sector workers generally have defined benefit (DB) plans. The most telling difference between them is that in DB plans, employers make all the investment decisions and must pay the pension regardless of the pension fund’s investment earnings. In a DC plan, the employee makes the decisions and accepts the risk that accumulations could be lower than expected.

As 401(k) plans has overtaken DB plans with employers, Social Security has emerged as the only reliable source of income for the elderly and wage income has emerged as the fastest-growing source of income.