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Best Web OpEds    H4'ed 1/2/16

A Smarter Plan to Make Retirement Savings Last -

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'By 2020, the numbers of  low-income elderly will rise sharply as the retired population soars to 56 million. More middle-class working Americans will be poor after they reach the age of 65. Most currently have inadequate 401(k)-type accounts or no retirement account at all. The current system. a mix of 401(k)s and  I.R.A.s — is broken. These plans are individually directed, voluntary and leaky. Over1/2 of workers don’t have  a workplace retirement plan. Americans between the ages of 40 and 55 have retirement savings of $14,500, when they will need between 20 and 30 times that amount. 
We need a bolder plan, which we are calling the guaranteed retirement account (G.R.A.). All workers and employers will  make regular payments into a G.R.A., which builds until retirement age, then pays out a supplemental stream of income until that person and his or her beneficiary die. '
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At www.nytimes.com

 

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Susan Lee Schwartz Social Media Pages: Facebook page url on login Profile not filled in       Twitter page url on login Profile not filled in       Linkedin page url on login Profile not filled in       Instagram page url on login Profile not filled in

I began teaching in 1963,; Ba and BS in Education -Brooklyn College. I have the equivalent of 2 additional Master's, mainly in Literacy Studies and Graphic Design. I was the only seventh grade teacher of English from 1990 -1999 at East Side (more...)
 

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