Retirement security : national and international efforts to expand coverage / Rafael Wilkins, editor.

Format:

Book

Contributor:

Wilkins, Rafael, editor.

Series:

Retirement issues, plans and lifestyles.

Retirement Issues, Plans and Lifestyles

Language:

English

Subjects (All):

Pension trusts--United States.

Pension trusts.

Physical Description:

1 online resource (195 p.)

Place of Publication:

New York : Nova Publishers, 2016.

Summary:

Millions of U.S. workers have little or no savings for retirement, potentially adding to future strains on state and national safety net programs. In addition to federal efforts, a growing number of states have proposed efforts to expand coverage in private sector workplace retirement savings programs. Other countries have also implemented similar efforts. This book examines recent estimates of coverage, including access and participation, as well as characteristics of workers who lack coverage; strategies used by states and other countries to expand coverage; and challenges states could face given existing federal law and regulations.

Contents:

RETIREMENT SECURITY NATIONAL AND INTERNATIONAL EFFORTS TO EXPAND COVERAGE ; RETIREMENT SECURITY NATIONAL AND INTERNATIONAL EFFORTS TO EXPAND COVERAGE ; CONTENTS ; PREFACE ; Chapter 1 RETIREMENT SECURITY: FEDERAL ACTION COULD HELP STATE EFFORTS TO EXPAND PRIVATE SECTOR COVERAGE* ; WHY GAO DID THIS STUDY ; WHAT GAO RECOMMENDS ; WHAT GAO FOUND ; ABBREVIATIONS; BACKGROUND ; Efforts to Expand Workplace Retirement Savings Program Coverage in the United States; Automatic Enrollment ; Saver's Credit ; myRA; Legislative Proposals

Federal Regulation of Employee Benefit Plans and Individual Retirement Accounts ERISA Preemption; GAPS IN ACCESS LEAVE MANY LOW-INCOME AND OTHER WORKERS WITHOUT WORKPLACE RETIREMENT SAVINGS PROGRAM COVERAGE; Lack of Coverage Is Driven by Gaps in Access ; Lower Income Workers and Those Employed by Smaller Firms Are Much Less Likely to Have Coverage; Given Access, Most Workers Participate ; STATES AND OTHER COUNTRIES USE SIMILAR KEY STRATEGIES TO EXPAND RETIREMENT COVERAGE ; States and Countries We Reviewed Often Combine Workplace Access, Automatic Enrollment, and Financial Incentives

Workplace Access Automatic Enrollment ; Financial Incentives ; States Can Learn from Other Countries' Experiences Implementing another Key Strategy - Simplifying Administration and Investment Management ; While Implementation of State Efforts Would Likely Increase Coverage, Some Private Sector Workers May Remain Uncovered ; STATES FACE POTENTIAL CHALLENGES WITH LEGAL UNCERTAINTIES THAT COULD DELAY OR DETER THEIR EFFORTS TO EXPAND COVERAGE WITHOUT FEDERAL ACTION ; ERISA Preemption ; Other Issues Causing Legal Uncertainty ; CONCLUSION ; MATTER FOR CONGRESSIONAL CONSIDERATION

RECOMMENDATION FOR EXECUTIVE ACTION AGENCY COMMENTS AND OUR EVALUATION ; APPENDIX I: OBJECTIVES, SCOPE, AND METHODOLOGY ; Section 1: Examining Estimates of Retirement Program Access and Participation and Characteristics of Workers Who Lack Coverage ; SIPP and IRS/SSA data ; Data Reliability; Methods for Examining Retirement Program Coverage ; Literature Review and Interviews ; Section 2: Examining Strategies Used in State Efforts to Expand Coverage and the Potential Challenges States Could Face Given Existing Federal Law and Regulations ; List of State Efforts ; State Case Studies

Section 3: Examining Strategies Used in Other Countries' Efforts to Expand Coverage APPENDIX II: DESCRIPTION OF EFFORTS TO SIMPLIFY ADMINISTRATION AND INVESTMENT MANAGEMENT OF WORKPLACE RETIREMENT SAVINGS PROGRAMS ; Reducing Administrative Burden and Cost for Employers ; Use Employers' Existing Payroll Processes ; Allow Small Employers to Choose Whether to Participate and Other Efforts to Recognize Resource Limitations of Small Employers ; Other Actions to Reduce Administrative Burden for Employer

APPENDIX III: DESCRIPTION OF SELECTED NATIONAL LEGISLATIVE EFFORTS TO EXPAND WORKPLACE RETIREMENT SAVINGS PROGRAM COVERAGE IDENTIFIED BY GAO

Notes:

Includes index.

Description based on online resource; title from PDF title page (ebrary, viewed September 6, 2016).

ISBN:

1-63485-001-7