January 18, 2006

DOES THE 40% PARTY THINK THEY CAN REVERSE THE TIDE?:

With pensions waning, workers save. Is it enough? (Mark Trumbull, 1/19/06, The Christian Science Monitor)

While many large employers still offer pensions, the shift toward voluntary saving plans such as 401(k) accounts has been clear for more than a decade. For millions of workers, contributing part of each paycheck is a firm habit. And there's evidence that when they do so, the effort can yield a solid stream of retirement income for those at all income levels. [...]

"One thing that we know works pretty well ... is automatic enrollment" in 401(k) plans, says James Poterba, an economist at the Massachusetts Institute of Technology in Cambridge. "We know that has a very substantial and positive impact." With the trend of corporate pension phaseouts likely to continue or even accelerate, such policies represent a crucial new frontier in the US retirement system.


Democrats are expending their last bit of energy and political capital fighting SS reforms that are not only inevitable but worthwhile and likely to be popular. It's a sure path to self-marginalization.

Posted by Orrin Judd at January 18, 2006 10:05 PM
Comments

Hey, they're up 10% since yesterday! Go Democrats!

http://www.brothersjudd.com/blog/archives/2006/01/30_party.html#comments

Posted by: Brandon at January 18, 2006 10:11 PM

IBM freezing their pension plan a week or so ago opened up a lot of eyes. People I know who couldn't tell you what the Dow is are focusing on their retirement plans with great fervor.

Posted by: AWW at January 18, 2006 11:18 PM

Next time the Dems are in power they'll pick up the slack with SS money. No problemo.

Posted by: Genecis at January 19, 2006 9:21 AM
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