Carolina Smith
Professor Magnusson
04 August 2012
When I saw the heading for this article, I was immediately drawn to it. My husband and I who are looking into careers want to make sure that whatever route we choose, we will have a pension to assist us in our retirement. Most people cannot live off of social security alone. This article is about the idea of tying up a pension plan for all employees and not just certain careers that provide it.
Teresa Ghilarducci, director of the Schwartz Center for Economic Policy Analysis at The New School For Social Research, makes the case for expanding access to public employees’ pension funds in an op-ed in the March 16, 2012 New York Times.
Arguing against the trend in state legislatures of limiting pensions for state employees, Ghilarducci writes that, New York and other states could save millions of workers from impending poverty by creating public pensions for everyone., Citing the salutary, steadying effect reliable retirement funds have on the broader economy (find Ghilarducci’s study on that phenomenon here) she encourages state lawmakers to create modest, state-operated retirement program[s] financed by the workers and their employers., This system would both strengthen public funds and provide retirement security for all who choose to opt in.
Ghilarducci has been lauded by the White House, the Government Accountability Office and The New York Times, and is one of the nation’s most vocal advocates for retirement security. Her plan to create Guaranteed Retirement Accounts would help provide millions of people reliable retirement financing. To learn more about Ghilarducci visit herwebsite and NSSR.
As we learned throughout this class, unemployment is a detrimental factor to our economic standing. I tie these two matters together in a sense that most people working now or not working at all, are or should worried about their futures. Unemployed people may not be thinking that the shorter they work, the less money they will have available for social security. In turn, they will have less money to live off of so they will need to work longer to get by. I know first hand that it is difficult to see people working during old age 70+. So I see that the idea of a pension for all to be a great idea to help elderly people not have to worry about their financial situation. The rules for social security have been the same. You get what you earn. What you earned, may be too little.
Professor Magnusson
04 August 2012
Economics Reflection
When I saw the heading for this article, I was immediately drawn to it. My husband and I who are looking into careers want to make sure that whatever route we choose, we will have a pension to assist us in our retirement. Most people cannot live off of social security alone. This article is about the idea of tying up a pension plan for all employees and not just certain careers that provide it.
Teresa Ghilarducci, director of the Schwartz Center for Economic Policy Analysis at The New School For Social Research, makes the case for expanding access to public employees’ pension funds in an op-ed in the March 16, 2012 New York Times.
Arguing against the trend in state legislatures of limiting pensions for state employees, Ghilarducci writes that, New York and other states could save millions of workers from impending poverty by creating public pensions for everyone., Citing the salutary, steadying effect reliable retirement funds have on the broader economy (find Ghilarducci’s study on that phenomenon here) she encourages state lawmakers to create modest, state-operated retirement program[s] financed by the workers and their employers., This system would both strengthen public funds and provide retirement security for all who choose to opt in.
Ghilarducci has been lauded by the White House, the Government Accountability Office and The New York Times, and is one of the nation’s most vocal advocates for retirement security. Her plan to create Guaranteed Retirement Accounts would help provide millions of people reliable retirement financing. To learn more about Ghilarducci visit herwebsite and NSSR.
As we learned throughout this class, unemployment is a detrimental factor to our economic standing. I tie these two matters together in a sense that most people working now or not working at all, are or should worried about their futures. Unemployed people may not be thinking that the shorter they work, the less money they will have available for social security. In turn, they will have less money to live off of so they will need to work longer to get by. I know first hand that it is difficult to see people working during old age 70+. So I see that the idea of a pension for all to be a great idea to help elderly people not have to worry about their financial situation. The rules for social security have been the same. You get what you earn. What you earned, may be too little.
Think of the times now. People have been struggling to find employment. During this time, people are out on money now and in will be out in the future. They cannot get that time or money back. We do hope that they can find a way to get a job before their retirement age. If people put in the time, social security and a pension should be available to these people. I am not saying that everyone regardless of how long they have been working should receive a pension, but I do believe that if you put in the time, you should receive compensation.
