“Obviously, I think it’s good to have the funds dedicated. Then, you want to see how the funds are expended,” said Thea Lee, president of the Economic Policy Institute, a progressive think tank. She was previously deputy chief of staff at the AFL-CIO and spearheaded the union umbrella organization’s work on trade.
“I think all of this will require a lot of monitoring going forward,” Lee added.
Bloomberg Law
January 8, 2020
This month’s goods trade numbers show that clouds are gathering on the global economic horizon, according to Robert Scott at the Economic Policy Institute.
Marketplace
January 8, 2020
However, many workers are nowhere near reaching their retirement goals. Even among Americans who are only a few short years away from retirement, savings are drastically lower than they should be: The median amount that workers age 56 to 61 have in savings is just $21,000, according to a report from the Economic Policy Institute. For most people, that money will only last a year (or even less) in retirement.
The Motley Fool
January 8, 2020
It’s not surprising, then, to learn that single workers save a lot less money for retirement than their married counterparts. The Economic Policy Institute reports that as of 2016 (the last year for which its data is available), only 44% of single men and 45% of single women had a retirement savings account. By contrast, 67% of couples had one.
The Motley Fool
January 8, 2020
Unfortunately, new data from the Economic Policy Institute (EPI) reveals that an uncomfortably large number of Americans are lacking in retirement savings. Among households headed by someone between the ages of 32 and 61, nearly half have no money in retirement savings whatsoever.
The Motley Fool
January 8, 2020
The retirement shortfall has become more noticeable not only because a large population is starting to retire, but because Baby Boomers are the first generation to retire with individual accounts: the 401(k)-like plans in the US, UK, and Australia, among others. Economists at the left-leaning Economic Policy Institute declared the 401(k) system a disaster, citing 50% coverage rates and low asset balances that won’t cover an adequate retirement.
Quartz
January 8, 2020
The Economic Policy Institute nonprofit, nonpartisan think tank this month published a series of telling charts that “paint a picture of increasingly inadequate retirement savings for successive generations of Americans — and large disparities by income, race, ethnicity, education, and marital status.”
MarketWatch
January 8, 2020
Startling new data from the Economic Policy Institute (EPI) reveals that an uncomfortably large number of Americans are lacking in retirement savings. Among households headed by someone between the ages of 32 and 61, nearly half have no money in retirement savings whatsoever. This consequences of this issue are just starting to reach the surface of our community and are indicative of why we are seeing a growing homeless senior population. This telling similarity among homeless seniors reveals that many were engaged in low wage work and were not able to invest in supplemental income retirement accounts, or to plan for their future, due to the growing high cost of living. They were left with very little opportunity to save and invest. As a result, many homeless seniors are victims of having stagnant Social Security income that provides less than what’s needed to cover basic needs and a system that discards them once their ability to supply labor is exhausted. I know we can do better to create a system where we care for our elders, ensure dignity in aging and provide access to support services that fill in the gap when government fails. I believe we have done a great deal of that work here in Santa Cruz County through the partnerships among senior service providers such as Grey Bears, Meals on Wheels, Senior Network Services, Elderday and Lift Line under the collaboration of our own Area Agency on Aging.
Santa Cruz Sentinel
January 8, 2020
You’re more likely to come out ahead if you compare your savings to the average for all working-age families. Their median nest egg was a paltry $5,000 as of 2013, the latest year for which the Economic Policy Institute has data. That’s because many working-age families had little or zero savings.
Investor's Business Daily
January 8, 2020
Earlier this year, I spent a long weekend in Jackson, Wyoming, the most economically unequal place in the US, according to a 2018 report published by the Economic Policy Institute. In the Western resort town, the average income of the richest 1% is more than $16.1 million, while the average income of the remaining 99% is $122,447.
Business Insider
January 8, 2020