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The Importance of Giving All Workers Access to a Retirement Savings Plan
Back in January, Sylvester Schieber and Andrew Biggs made the case that retirement incomes are in much better shape than is commonly understood. Because the Current Population Survey (CPS) fails to count the bulk of the income older Americans derive from 401(k) and IRA plans, observers relying on CPS data have concluded that the shift from defined-benefit pensions to defined-contribution savings plans has greatly reduced retirement incomes. Read more…
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