Here are some of the latest reports, surveys, and studies related to retirement, including research into alternative ways to receive retirement income, machines' impact on jobs, and Social Security and Medicare data.
Converting retirement savings balances into a stream of retirement income is one of the most difficult financial decisions that households need to make, say the authors of this new report from The Brookings Institution. New financial products, however, offer people alternative ways to receive retirement income, say authors David C. John, William G. Gale, J. Mark Iwry, and Aaron Krupkin. They write: "We propose a default decumulation solution that could be added to retirement plans to simplify decumulation choices in much the same way that automatic choices have simplified enrollment, contribution, and investment allocation decisions for millions of savers. Our proposal centers on pooled investment accounts known as managed payout funds that deliver monthly income that is likely, though not guaranteed, to last a lifetime. Coupled with longevity annuities that begin to make payments when the owner reaches an advanced age and a separate fund for emergencies and extraordinary payments, managed payout funds could help protect retirees from longevity risk without unduly reducing their current living standards." Read all about it in Brookings Institution: From saving to spending: A proposal to convert retirement account balances into automatic and flexible income.
Also in this week's report on retirement research, a new brief from the Center for Retirement Research at Boston College asks, Is This Time Different? What History Says About Machines' Impact on Jobs. The brief's key findings include:
- Since the Industrial Revolution, labor-saving machines have helped generate enormous economic growth and new employment opportunities.
- But machines can require painful short-term transitions as displaced workers scramble to adapt to a changing labor market.
- Historically, workers have learned new skills for jobs in growing industries, but today's increasingly capable robots have triggered fears of permanent job loss.
- Despite the rise of robots, it still takes decades to fully adopt new technology, so many of today's jobs are unlikely to suddenly vanish.
More retirement related research:
Institute for the Study of Labor: Who Is a Passive Saver under Opt-In and Auto-Enrollment?
Pension Benefit Guaranty Corporation: FY2018 PBGC Projections Report
University of Pennsylvania, Wharton School, Pension Research Council: Five Facts About Beliefs and Portfolios
Center for Retirement Research at Boston College: Does Public Pension Board Composition Impact Returns?
U.S. Government Accountability Office: VA Nursing Home Care: VA Has Opportunities to Enhance Its Oversight and Provide More Comprehensive Information on Its Website www.gao.gov/products/GAO-19-428
National Bureau of Economic Research: Tax-Sheltered Retirement Accounts: Can Financial Education Improve Decisions?
Kaiser Family Foundation: Financial Performance of Medicare Advantage, Individual, and Group Health Insurance Markets
U.S. Government Accountability Office: Medicare Plan Finder: Usability Problems and Incomplete Information Create Challenges for Beneficiaries Comparing Coverage Options and Medicare Physician Services: Spending On and Use of Billing Codes for Comprehensive Care Planning Services
Kaiser Family Foundation: A Look at Recent Proposals to Control Drug Spending by Medicare and its Beneficiaries
U.S. Social Security Administration: International Update, July 2019
Statistics Canada: Results from the 2016 Census: Occupations with older workers
University of California-Berkeley Center for Labor Research and Education: Half of California Private Sector Workers Have No Retirement Assets
European Centre for Social Welfare Policy and Research: The long-term care mix in Austria: An overview of community-based care provision by formal and informal caregivers
National Bureau of Economic Research: Precise or Imprecise Probabilities? Evidence from Survey Response on Late-onset Dementia and Uninsured by Choice? A Choice Experiment on Long Term Care Insurance
AARP Public Policy Institute: Supplemental Benefits in Medicare Advantage: Recent Public Policy Changes and What They Mean for Consumers
Brookings Institution: Reducing regulatory obstacles to annuities in 401(k) plans
U.S. House Ways and Means Committee: Legislative Hearing on the Social Security 2100 Act
Pennsylvania Department of State Auditor: Who Will Care for Mom and Dad?
Here are some of the latest reports, surveys, and studies related to retirement, including research into alternative ways to receive retirement income, machines' impact on jobs, and Social Security and Medicare data. Subscribe for full article
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