The Social Security Trustees project that the Social Security program faces longterm financing difficulties. Several proposals that have been offered to shore-up the finances of the Social Security program would create individual retirement accounts funded with part of the payroll tax. The...

When it comes to retirement income policy, there is a general perception that workers have full 40-year working careers before retiring. Further, it is generally assumed that workers with low lifetime earnings have low earnings in each year during a normal working career. The basic research...