In my view, the lack of continuous coverage under a workplace retirement plan is the most serious problem with our nation’s retirement system. The result is that many end up with no retirement savings other than Social Security and others, who weave in and out of coverage, with remarkably small 401 balances.
Read: This is the COLA Social Security beneficiaries may get next year – but don’t forget about inflation effects Second, the CPS coverage rates took a nose dive after a 2014 redesign . Although the CPS coverage questions did not change, new questions were inserted before the coverage questions. The new questions – designed to get a better measure of income – asked about the existence of and withdrawals from retirement accounts and referred directly to several different types of accounts, including 401s, 403s, and various types of IRAs.
I believe government involvement and interference in how ppl save $ for retirement discourages saving. Retirement savings & investments should be hands off for taxation and regulation. It should incentivize savings & get out of business of telling ppl how/when they can spend $
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