Without a retirement policy Americans face a pension crisis

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Without a national retirement policy, Americans face a future of pension crises

The last time Congress thought holistically about U.S. retirement policy was 40 years ago in 1981.

Fast forward to 2021, in which we confront a retirement system that is failing much of the population and portends economic and social tragedy. According to a recent report from the Center for Retirement Research at Boston College, 51% of American households, as of the third quarter of 2020, “will not have enough retirement income to maintain their pre-retirement standard of living, even if they work to age 65 and annuitize all their financial assets, including the receipts from a reverse mortgage on their homes.”

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