PURE: a proposal for more retirement income security.
Despite large public policy efforts over the past 30 years, a large minority of households remains consistently inadequately prepared for retirement. If policymakers want to address this shortcoming, public policy has to change from its current path. This paper suggests a system of mandatory private pensions funded by a minimum mandatory contribution of 3% of payroll. In addition, a number of institutional changes are suggested to reduce the costs and risks of individual accounts.
Weller
Christian E
CE
Center for American Progress, 1333 H St NW, 10th Floor, Washington, DC 20005, USA. cweller@americanprogress.org
D005380:Financing, Government / Q000458:organization & administration; D006801:Humans; D010415:Pensions; D011640:Public Policy; D012179:Retirement / Q000191:economics*; D012943:Social Security / Q000458:organization & administration; D014481:United States