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Teresa Ghilarducci
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Teresa Ghilarducci is a Bernard and Irene Schwartz Professor of Economic Policy Analysis at The New School for Social Research.

Entries by Teresa Ghilarducci

The President's Baby Steps Towards Retirement Security

(1) Comments | Posted January 25, 2015 | 3:14 PM

The nation's retirement wonks (and retirement industry executives) noticed that President Barack Obama made only general statements in his State of the Union speech Tuesday about how his administration would help workers save for retirement at work. The president also vowed to 'rebalance' the tax code, which means...

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The Solution to the Retirement Crisis Is Not More Work

(1) Comments | Posted October 17, 2014 | 3:57 PM

We recently disagreed with Andrew Biggs and Sylvester Schieber when they said the retirement crisis is not real. They responded with data showing that people over the age of 65 maintain their standard of living not through adequate retirement savings, but work.

Here's...

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The Retirement Crisis Is Real

(0) Comments | Posted September 30, 2014 | 8:08 PM

The retirement crisis is anything but imaginary. In a recent working paper, we find that only 44% of workers in the United States have access to a retirement plan at work. Except for workers with defined benefit plans, most middle class U.S. workers will not have adequate retirement...

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Who Stops Paying Social Security Taxes After Today?

(79) Comments | Posted January 1, 2014 | 1:37 PM

Take a guess; how many Americans earn $50 million or more per year? Answer: 199 earn a wage or salary of over $50 million a year which turns out to be about $117,000 daily. (Most of the very wealthy get their incomes from investments, not salaries.)

Why are these...

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Men Fail, only then Women Rule; Lagarde, Yellen, now Flug

(0) Comments | Posted November 1, 2013 | 5:03 PM

Janet Yellen, Karnit Flug, and Christine Lagarde's are women AND in top economic leadership roles. How did that happen? Don't get confused, women aren't making it in the profession. The numbers of missing women in economics gets larger the farther up the profession you go --...

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How Defined Benefit Retirement Plans Outperform Defined Contribution Plans

(2) Comments | Posted July 17, 2013 | 5:48 PM

A recent report from the Employee Benefit Research Institute (EBRI) sheds light on how badly lower income workers fare under the new defined contribution (DC) system compared with the defined benefit (DB) plans of old. For workers with 31 to 40 years of plan eligibility, their returns under...

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Blowing Smoke at the Retirement Crisis

(8) Comments | Posted December 21, 2012 | 5:24 PM

The lobbying group for the mutual fund companies surprised Americans with a report that declares all is well with their retirement income security. The Investment Company Institute's (ICI) December report, "The Success of the U.S. Retirement System," asserts that the retirement system adequately prepares Americans for a comfortable...

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Smart People With Dumb Mortgages

(2) Comments | Posted August 27, 2012 | 7:13 PM

The smartest people are pretty dumb about mortgages. The realtor lobby and the government tax breaks have conspired to make people who should know better take on mortgages and go big on housing. In 1990, 80 percent of elderly homeowners owned their houses free and clear. In 2007,...

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Retirement Planning Beyond the Basics

(2) Comments | Posted August 6, 2012 | 2:40 PM

I make people depressed.

The average 55-year-old has about $40,000 in their retirements account, but they need $1 million. A tiny fraction is all set, so what do the rest of us do? The standard advice focuses on the puny individual: pay off your house, get rid...

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