Work

Retirement plans for contingent workers: issues and options

Year: 2018

Type: article

Abstract: This paper examines retirement saving policy for independent – or contingent – workers, a growing segment of the workforce. Because few of these workers are covered by employer-sponsored retirement plans, they often do not benefit from payroll deduction, employer matching contributions, automatic enrollment, and other provisions that encourage retirement saving. Better use of fintech, judicious changes to tax policy, and expanded Automatic IRAs would help independent workers save for retirement. In addition, we propose the creation of retirement saving accounts that attach to the worker as a supplement to, and possible replacement for, the current system of employer-sponsored accounts.

Source: Journal of Pensions Economics and Finance

DOI: 10.1017/s1474747218000288

Authors: William G. Gale, Sarah E. Holmes, David C. John

Institutions: Brookings Institution, National Bureau of Economic Research, AARP

Language: English

Topic: Financial Literacy, Pension, Retirement Analysis

Subfield: Finance

Field: Economics, Econometrics and Finance

Domain: Social Sciences

SDG: Decent work and economic growth

Open Access status: hybrid

Estimated APC paid: $3,550