Business
The High-Stakes Push to Fix the U.S. Retirement System
“USA250: The Story of the World’s Greatest Economy” is a yearlong WSJ series examining America’s first 250 years. Read more about it from Editor in Chief Emma Tucker.
The warning from educators, economists and think tanks is loud, clear and persistent: The nation’s retirement system is in need of repair. Failing to do so could mean that tens of millions of Americans in the 2050s and beyond will enter later life with little, if any, financial security.
The good news: People appear to be listening.
“I’m excited about the progress we’re seeing,” says Angela Antonelli, executive director of the Georgetown University Center for Retirement Initiatives at the McCourt School of Public Policy. In the past, she notes, decades could pass without significant retirement-system overhauls. Now, incremental gains in helping workers build savings and prepare for later life are evident in both the public and private sectors.
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