In Search of Retirement Security

In Search of Retirement Security: the Changing Mix of Social Insurance, Employee Benefits,and Individual Responsibility

John L. Palmer

The Century Foundation Press, December 2005

John L. Palmer

Aging Studies Institute

Campbell Public Affairs Institute

Economic Policy

The Century Foundation Press

Since World War II, Social Security and employer-based pension plans have become the foundations of an economic security that enables older Americans to retire with dignity and financial independence. Social insurance and tax advantaged retirement benefits currently face a number of challenges, however.

The upcoming retirement of the baby boomers will swell the ranks of the retired, which are estimated to double by 2020, straining the Social Security and Medicare programs. Employers are struggling to keep their pension funds afloat, while fewer and fewer companies are offering traditional pension plans. Americans are living longer than ever before, which means they draw benefits longer, taxing the system.

In "Search of Retirement Security" considers these challenges and provides fresh perspectives on the changing responsibilities of individuals, employers, and government in ensuring the continued dignity and independence of retirees.