"Americans are not saving enough for a comfortable retirement, and some are returning to work because they can't afford not to. A self-described "retirement nerd" and advocate for social democratic policies, the 68-year-old Ghilarducci told Fortune about how she came to partner with Hassett, saying it's a natural outgrowth of her 42-year career studying retirement security."
"The plan is the perhaps unlikely brainchild of National Economic Council chief Kevin Hassett and a progressive economist, The New School professor Teresa Ghilarducci. While they may seem like an odd pairing, both Hassett and Ghilarducci share a passion for and deep concern about the future of retirement."
"At The New School, she directs a think tank and a specialized lab that studies how to promote economic security for aging Americans and she believes now is the time for major changes in how the U.S. approaches retirement, especially for low-income workers."
President Trump introduced a retirement savings initiative designed to benefit 54 million American workers lacking employer-sponsored retirement plans. The plan would provide these workers access to the same retirement savings structure available to federal employees, with government matching contributions up to $1,000 annually. This policy emerged from collaboration between National Economic Council chief Kevin Hassett and progressive economist Teresa Ghilarducci from The New School. Both share concerns about inadequate American retirement savings and rising numbers of older workers unable to afford retirement. Ghilarducci, a 68-year-old retirement security expert with 42 years of research experience, directs a think tank studying economic security for aging Americans. The initiative represents a significant effort to address retirement insecurity, particularly for low-income workers.
#retirement-security #federal-retirement-plan #low-income-workers #economic-policy #retirement-savings
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