Policy Solutions for the Retirement Crisis: The U.S. retirement system is flawed and inadequate. The remedy? Expand Social Security and ensure employers and workers contribute to simple, affordable retirement plans.

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    • Abstract:
      The United States' do-it-yourself retirement system, which relies on 401(k) plans, is flawed. These plans don't require employers to take on long-term liabilities, leaving many workers without access to employer plans; and they pose significant barriers to retirement security--high fees, poor investment choices, upside-down tax subsidies, and longevity risk. Rather than blaming people for not saving enough or relying on employers to voluntarily contribute toward workers' retirements, the solution is expanding Social Security and ensuring that employers and workers contribute to simple, affordable plans like Guaranteed Retirement Accounts. [ABSTRACT FROM AUTHOR]
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