Guaranteed Retirement Accounts: Toward retirement income security
Date Published:
Monday, January 1, 2007 Guaranteed Retirement Accounts: Toward retirement income security, by Teresa Ghilarducci, November 2007. EPI Briefing Paper #204.
"Developed by retirement security expert Teresa Ghilarducci, this proposal would provide a guaranteed supplement to Social Security that is reliable, affordable, and both actuarially and economically sound. The new accounts would correct the distortions and inequities that have multiplied in the shift from defined-benefit pension to defined-contribution plans like 401(k)s, a shift that has exacerbated the growth of retirement insecurity and inequality for most American workers."
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Did You Know?
A joint-and-survivor annuity is an annuity that pays a monthly benefit over the lives of the participant and his or her surviving spouse. This is the default form of benefit for married participants in most defined benefit pension plans. Because it lasts for the life of both the worker and the spouse, a joint-and-survivor annuity typically results in a lower monthly benefit payment than a single-life annuity.
