Pensions & Investments is hosting a LinkedIn Live event March 6 at 11 a.m. EST featuring Teresa Ghilarducci, labor economist and author of the forthcoming book "Work, Retire, Repeat: The Uncertainty of Retirement in the New Economy."
Ghilarducci will share her views on the 401(k) plan experiment, which she deems a failure, and discuss how the retirement crisis in the United States is only getting worse.
Senior reporter Rob Kozlowski will moderate the wide-ranging discussion. Register for the event here.
"The system that we have experimented with for the past 40 years, which I call it a 'do-it-yourself, voluntary, individual-directed, commercially based system with top-heavy tax breaks,' has mostly failed," Ghilarducci said at the National Institute on Retirement Security's 15th Annual Retirement Policy Conference in Washington on Feb. 27.
She said people at the lower end of the economic spectrum are working longer but not coming out ahead.
"When you look at the data, 35% of people between the ages of 62 and 70 are working, most of them in lower paying jobs … and they have claimed Social Security as early as they can to supplement their low wages," she said.
Ghilarducci is also professor of economics at The New School for Social Research and the director of the Schwartz Center for Economic Policy Analysis and The New School's Retirement Equity Lab.
If you have any questions for Ghilarducci, please send them to [email protected].
