Business and Management INK

Death and Taxes: Can We Afford Retirement Between Them?

October 23, 2012 759

The Pew Research Center reported this week that Americans—in particular, younger folks in their 30s—are now more worried than they were at the end of the Great Recession about having enough money for retirement.

Why can’t we look forward to the kind of retirement security that our parents and grandparents enjoyed? In the latest issue of Compensation & Benefits Review Dr. Sylvester J. Schieber, a private consultant and former Chair of the U.S. Social Security Advisory Board, asks this question and examines the background, the problem, and potential solutions in “Death and Taxes: Can We Afford Retirement Between Them?“:

In recent years, there has been a growing angst about the state over retirement security. What seemed a golden age of retirement 15 years ago has become increasingly costly and precarious, and there is limited understanding of the underlying causes for the changing environment. The discussion here explores the evolution of public policies and demographics that have driven the different experience of successive generations under both Social Security and employer-sponsored pensions. Social Security has become much more expensive and less efficient over time because it is financed on a pay-as-you-go basis. Employer-sponsored pension costs have exploded in recent years because we largely deferred the funding of the baby boom generation’s retirement benefits to the latter part of their working lives. This result was driven by a combination of policy appetites to keep income tax rates low and variations in financial market performance. The need to bring new policies to bear on our situation is delineated, and a description of potential policies to address current and future generations’ income security is provided.

Click here to continue reading the article.

Keep up with the latest research on salary and wage trends, labor markets, pay plans, incentive compensation, legal compliance, retirement programs, and health care benefits: sign up for e-alerts today from Compensation & Benefits Review.

Business and Management INK puts the spotlight on research published in our more than 100 management and business journals. We feature an inside view of the research that’s being published in top-tier SAGE journals by the authors themselves.

View all posts by Business & Management INK

Related Articles

Challenging, But Worth It: Overcoming Paradoxical Tensions of Identity to Embrace Transformative Technologies in Teaching and Learning
Business and Management INK
March 27, 2024

Challenging, But Worth It: Overcoming Paradoxical Tensions of Identity to Embrace Transformative Technologies in Teaching and Learning

Read Now
Data Analytics and Artificial Intelligence in the Complex Environment of Megaprojects: Implications for Practitioners and Project Organizing Theory
Business and Management INK
March 21, 2024

Data Analytics and Artificial Intelligence in the Complex Environment of Megaprojects: Implications for Practitioners and Project Organizing Theory

Read Now
Putting People at the Heart of the Research Process
Business and Management INK
March 20, 2024

Putting People at the Heart of the Research Process

Read Now
Coping with Institutional Complexity and Voids: An Organization Design Perspective for Transnational Interorganizational Projects
Research
March 19, 2024

Coping with Institutional Complexity and Voids: An Organization Design Perspective for Transnational Interorganizational Projects

Read Now
Empowering David: How Smaller Firms Reconfigure National Dependency on Foreign Multinationals in the Era of Disruptive Technological Change

Empowering David: How Smaller Firms Reconfigure National Dependency on Foreign Multinationals in the Era of Disruptive Technological Change

In this article, Sonja Avlijaš, Pavle Medić, and Kori Udovički reflect on foreign direct investment (FDI) and the way it impacts the development of political economies.

Read Now
The Complexities of Making Key Career Decisions

The Complexities of Making Key Career Decisions

practice. Career decision-making is a process that is difficult to analyze because it is much more complex than selecting the best option in a one-off choice.

Read Now
Revolutionizing Management Research with Immersive Research Methods

Revolutionizing Management Research with Immersive Research Methods

In this article, Anand van Zelderen, Nicky Dries, and Elise Marescaux reflect on their decision to explore nontraditional research.

Read Now
0 0 votes
Article Rating
Subscribe
Notify of
guest

This site uses Akismet to reduce spam. Learn how your comment data is processed.

0 Comments
Inline Feedbacks
View all comments