EBRI Notes Vol. Yet rising medical and other costs threaten the outlook for future retirees.
Workers worry about retirement security.
Still, many spend today as if there were no tomorrow or they cannot afford to wait until tomorrow. Pension plan designers create programs that grant workers more freedom. But designers grow apprehensive when workers utilize the freedom in ways the planners did not foresee. Policy strategists envision a crisis in retirement financing in a quarter century or sooner unless corrective actions are initiated now. Even so, government officials sense no political reward for change.