It’s going to take a village to prepare most Americans for their golden years.
The vast majority of Americans who save for retirement do so through a plan provided by their employer — typically a 401. But we may have reached the limit of what our employer-sponsored system can do to support a secure retirement. Today, only about half of private sector businesses offer retirement benefits. And while about 140 million people participate in retirement plans, the proportion of the employed workforce covered by these plans has never gone above 70 percent.
Of course, people without a workplace-based plan could still save for retirement on their own, but less than 15 percent of all American households contribute to an individual retirement account outside of work. While not possible under current federal law, one could imagine a low-cost, portable, individual-based system, managed by a third party, that allows workers to automatically contribute to their own retirement account with each paycheck and give employers the option to add to those accounts through a matching contribution.
But what about nontraditional workers struggling to save for retirement in a changing economy? More than 10 million independent or contingent workers, a category that includes consultants, freelancers, and temps, have very low rates of benefits coverage. Alternative retirement savings models that might serve part-time and independent or contingent workers include using new entities affiliated with associations, unions, or industry sectors, such as manufacturing and retail, to expand coverage.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Theresa May's future is in doubt with aides plotting to force her out to save BrexitSenior ministers and aides to prime minister Theresa May have discussed telling her to stand down in order to prevent another historic defeat of her Brexit deal.
Lire la suite »
Here's how many working Americans aren't saving any money for retirement or emergencies at allHere's how many working Americans aren't saving any money for retirement or emergencies at all via CNBCMakeIt
Lire la suite »
12 Ways To Save Money On Groceries In 2019No coupon cutting required.
Lire la suite »
Anthony Barr's Flip-Flop May Have Saved The Jets Some Buyer's RemorseAnthony Barr's decision to spurn the Jets at the last minute and stay with the Vikings may wind up being the best signing the Jets never made
Lire la suite »
Ticking clock may save Trump from impeachment in CongressA momentous question hanging over Washington is whether investigations into Pres...
Lire la suite »
Hidden ingredients in majority of medications may be harmful to some people'Almost every pill and capsule' contains inactive compounds such as lactose, gluten and food dyes, new study finds.
Lire la suite »
This vending machine can help save the environment -- and save you moneyThe Ecopod vending machine dispenses biodegradable detergents and cleaners into refillable containers, with the hope of reducing the use of single-use plastic bottles that are polluting oceans and filling up landfills.
Lire la suite »
How much money Americans are saving for retirement—and how much you need if you want to retire by 65How much money Americans are saving for retirement—and how much you need if you want to retire by 65 via CNBCMakeIt
Lire la suite »
Federal workers would pay more toward retirement with Trump budgetUnder the proposal, current employees would increase their required contributions toward retirement until the employee and government share are equal.
Lire la suite »
Why A Hotel Is Not A Viable Retirement OptionContrasting a Holiday Inn to a nursing home makes very little sense in the real world; they were designed for different purposes. What is more alarming is that people in the U.S. aren't thinking rationally about what aging means and making good choices about their future wellbeing.
Lire la suite »