Retirement Delayed--Maybe for the Better
Washington Post (07/31/02) p.A19; Samuelson, Robert J.

People are eagerly struggling to acquire more "golden years" and less "grind," but the recent stock crisis has left many working into retirement, which may not be bad for the economy overall. As the baby boomers retire, there will be fewer workers and higher government costs for insurance, Social Security, and other programs, but if defined- contribution plans force workers to continue in the job market, the economy will begin to expand. However, there are those that are interested in returning to defined-benefit plans, which would be beneficial to those retiring now but harm future retirees and younger workers that would be forced to pay more in taxes to cover the Social Security and medical costs of the elderly.


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