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Overcoming the Saving Slump
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Overcoming the Saving Slump: How to Increase the Effectiveness of Financial Education and Saving Programs

Annamaria Lusardi

Abstract

The great majority of working Americans are unprepared to face the difficult task of planning for retirement. In fact, the personal savings rate has been holding steady at zero for several years, down from 8 percent in the mid-1980s. This book explores the many challenges facing workers in the transition from a traditional defined benefit pension system one that requires more individual responsibility, analyzing the considerable impediments to saving and evaluating financial literacy programs devised by employers and the government. Mapping the changing landscape of pensions and the rise of de ... More

Keywords: working Americans, planning for retirement, personal savings rate, benefit pension system, individual responsibility, saving, financial literacy programs, employers, government, defined contribution plans

Bibliographic Information

Print publication date: 2009 Print ISBN-13: 9780226497099
Published to Chicago Scholarship Online: February 2013 DOI:10.7208/chicago/9780226497105.001.0001

Authors

Affiliations are at time of print publication.

Annamaria Lusardi, editor

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Contents

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Front Matter

Introduction

Annamaria Lusardi

Part I The Shift from Defined Benefit to Defined Contribution Pensions and Financial Regulation

Chapter One The Changing Landscape of Pensions in the United States

James M. Poterba, Steven F. Venti, and David A. Wise

Part II Portfolio Choice, Life-Cycle Funds, and Annuities

Part III Improving Financial Education and Saving Programs

Part IV Learning from the United States and Other Countries