Universal Voluntary Accounts: A Step Towards Fixing the Retirement System
Contributing Organization(s): Center for Economic and Policy Research
Author(s)/Creator(s): Dean Baker
Publishing Date: 2006-12-01
Issue Areas: Welfare and Public Assistance
Ownership/Rights Info: Please consult the copyright holder before using or repurposing this information.
Most older workers are ill-prepared for retirement, with few financial assets to rely upon other than Social Security. Less than 20 percent of the private sector workforce is currently covered by a defined benefit (DB) plan, and this number is declining rapidly. Defined-contribution (DC) plans, such as 401(k) accounts, have not come close to filling the gap. This paper outlines a proposal for a system of universal voluntary accounts (UVAs). UVAs would be state sponsored, but privately managed, defined-contribution accounts. The accounts would be open to every worker in a state.
Access this research:
Votes: 0 | Average Rating: n/a
Click to add your rating!
Click to add your rating!
Related Research
Explore related research listed in the same issue areas.
Here are titles that might interest you:
- For Whom The Bell Tolls: The Institutionalization of Homeless Families in America
- Help to Keep Going as Long as They Need Me: A Report on Seniors Raising Children
- Elements of Success in Welfare to Work Programs: Programmatic and Policy Recommendations
Share and Share Alike
The golden rule at IssueLab ... share the knowledge, share the love!
