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The Plot against Pensions and the Plan to Save Them
Princeton University Press
June 2008
On Sale: April 28, 2008
384 pages
ISBN: 0691114315
EAN: 9780691114316
Hardcover
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Self-Help Money
A crisis is looming for baby boomers and anyone else who
hopes to retire in the coming years. In When I'm Sixty-
Four, Teresa Ghilarducci, the nation's leading authority on
the economics of retirement, explains how to confront this
crisis head-on, revealing the causes behind the
increasingly precarious economics of old age in America and
proposing a bold plan to guarantee retirement security for
every working citizen. Retirement is one of the hallmarks of a prosperous,
civilized market economy. Yet in America today Social
Security is on the ropes. Government and employers are
dismantling pension security, forcing older people to work
longer. The federal government spends billions in
exemptions for 401(k)s and other voluntary retirement
accounts, yet retirement savings for most workers is
falling. Ghilarducci takes an unflinching look at the
eroding economic structure of retirement in America--and
what she finds is alarming. She exposes the failures of
pension regulators and the false hopes of privatized Social
Security. She tells the ugly truth about risky 401(k)
plans, do-it-yourself retirement schemes, and companies
like Enron that have left employees without any retirement
savings. Ghilarducci puts forward a sweeping plan to revive
the retirement-income system, a plan that will ensure that,
after forty years of work, every American will receive 70
percent of their preretirement earnings, guaranteed for
life. No other book makes such a persuasive case for
overhauling the pension and Social Security system in order
to provide older Americans with the financial stability
they have earned and deserve.
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