Three ways to help Americans secure their financial future

Part 2 in a series detailing recommendations from the Commission on Retirement Security and Personal Savings

In my last postLockhart, I listed six key challenges facing Americans as they save for retirement, as identified by the Bipartisan Policy Center’s Commission on Retirement Security and Personal Savings (of which I am a co-chairman). I also discussed the commission’s recommendations on ways to address three of those challenges: limited access to workplace retirement savings plans, insufficient personal savings for short-term needs and the risk of outliving retirement savings. In this post, I discuss the commission’s proposed solutions to the final three challenges to saving for retirement.

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Six key retirement challenges facing Americans today

Part 1 in a series detailing recommendations from the Commission on Retirement Security and Personal Savings

LockhartThe nation’s retirement system has many strengths, but it is also experiencing challenges. Retirement and savings policies have evolved over the decades into a true public-private partnership. Assets in workplace retirement savings plans and Individual Retirement Accounts (IRAs) have grown dramatically over the last four decades, but too many Americans are still not preparing adequately. Social Security remains the base of financial support in old age for most Americans, yet the program faces substantial financing problems. A long history of bipartisanship built these systems to promote savings and improve retirement security, but much work lies ahead.

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