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On April 10, President Barack Obama released his budget proposal for fiscal 2014, which included a controversial plan to change how Social Security benefits are calculated. Rather than using the Consumer Price Index (CPI) to calculate cost-of-living adjustments to Social Security, the President proposed switching to "chained CPI," which would take into account the possibility that when prices rise for certain goods and services, consumers buy cheaper products instead. Experts from Wharton and elsewhere weigh in on what this change -- and others -- could mean for retirees and the Social Security system.
From: April 24, 2013
The defining characteristic of future change, according to Nassim Nicholas Taleb, is that it is impossible -- and foolhardy -- to try to predict it. Nonetheless, the dominant impulse among policymakers and so-called experts is to attempt to reduce volatility rather than deal with it more productively. In his new book, Antifragile: Things That Gain from Disorder
, Taleb argues that in order for individuals, institutions, industries and societies to not only survive but also thrive, it is essential to make peace with uncertainty.
From: December 17, 2012
Everyone knows that pension plans, both public and private, are in trouble -- not on life support yet, but definitely facing a host of difficulties, including a poor economy and changing demographics. To shed light on the situation, Wharton's Pension Research Council recently asked two top pension-protection officials to discuss conditions in the United States and the United Kingdom. The forum was titled, "Saving Pensions: What Can the U.S. and U.K. Learn from Each Other?"
From: August 29, 2012
People are working longer and retirement ages are rising everywhere as aging populations, broken nest eggs and distressed pension funds make staying in the workforce a growing necessity. The baby boomers' desire to remain active and engaged further blurs the distinction between work and retirement -- a sharp reversal from attitudes that held sway during much of the 20th century, when retirement was seen as the ticket to an endless weekend.
From: December 06, 2010
From Chicago to the Champs-Elysees, distressed retirement plans are coming under fire as they struggle to keep pace with projected payouts. Responses range from raising national retirement ages to whacking corporate profits to meet funding requirements. With state and local plans facing the widest gaps, some policy makers are taking increasingly risky steps to keep the funds solvent. According to some experts, resolving these pension-plan woes will take years of hard work.
From: December 06, 2010
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