REVIEW OF KEY RETIREMENT INCOME METHANISMS IN THE UNITED STATES
The article describes the major financial mechanisms that are used to generate retirement income in the US (United States). Financing retirement has become an increasingly important topic with recent news about the financial troubles of ZUS (Social Insurance Institution) in Poland and Social Securi...
| Main Author: | |
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| Format: | Article |
| Language: | English |
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University of Gdansk
2016-03-01
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| Series: | Contemporary Economy |
| Subjects: | |
| Online Access: | http://www.wspolczesnagospodarka.pl/?p=1141 |
| _version_ | 1811273133430145024 |
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| author | Jakub Szpytma |
| author_facet | Jakub Szpytma |
| author_sort | Jakub Szpytma |
| collection | DOAJ |
| description | The article describes the major financial mechanisms that are used to generate retirement income in the US (United States). Financing retirement has become an increasingly important topic with recent news about the financial troubles of ZUS (Social Insurance Institution) in Poland and Social Security in the US. Due to strong economic and demographic pressures, saving for retirement has become even more significant. Each retirement income mechanism is discussed in terms of historical backgrounds, functions, advantages, disadvantages, or survey data. The article’s objective is to provide a concise summary of Social Security, pensions, financial investments, and 401(k) retirement plans while offering some policy and behavioral recommendations. The 401(k) plans are discussed in more detail since along with Social Security they form the foundation of retirement income for many individuals who are employed in the non-public sector. |
| first_indexed | 2024-04-12T22:53:49Z |
| format | Article |
| id | doaj.art-9e14ced4148a464e9976495f68dc505f |
| institution | Directory Open Access Journal |
| issn | 2082-677X 2082-677X |
| language | English |
| last_indexed | 2024-04-12T22:53:49Z |
| publishDate | 2016-03-01 |
| publisher | University of Gdansk |
| record_format | Article |
| series | Contemporary Economy |
| spelling | doaj.art-9e14ced4148a464e9976495f68dc505f2022-12-22T03:13:17ZengUniversity of GdanskContemporary Economy2082-677X2082-677X2016-03-01712330REVIEW OF KEY RETIREMENT INCOME METHANISMS IN THE UNITED STATESJakub Szpytma0Uniwersytet GdańskiThe article describes the major financial mechanisms that are used to generate retirement income in the US (United States). Financing retirement has become an increasingly important topic with recent news about the financial troubles of ZUS (Social Insurance Institution) in Poland and Social Security in the US. Due to strong economic and demographic pressures, saving for retirement has become even more significant. Each retirement income mechanism is discussed in terms of historical backgrounds, functions, advantages, disadvantages, or survey data. The article’s objective is to provide a concise summary of Social Security, pensions, financial investments, and 401(k) retirement plans while offering some policy and behavioral recommendations. The 401(k) plans are discussed in more detail since along with Social Security they form the foundation of retirement income for many individuals who are employed in the non-public sector.http://www.wspolczesnagospodarka.pl/?p=1141retirementSocial SecurityZUSpensionsinvestmentssaving |
| spellingShingle | Jakub Szpytma REVIEW OF KEY RETIREMENT INCOME METHANISMS IN THE UNITED STATES Contemporary Economy retirement Social Security ZUS pensions investments saving |
| title | REVIEW OF KEY RETIREMENT INCOME METHANISMS IN THE UNITED STATES |
| title_full | REVIEW OF KEY RETIREMENT INCOME METHANISMS IN THE UNITED STATES |
| title_fullStr | REVIEW OF KEY RETIREMENT INCOME METHANISMS IN THE UNITED STATES |
| title_full_unstemmed | REVIEW OF KEY RETIREMENT INCOME METHANISMS IN THE UNITED STATES |
| title_short | REVIEW OF KEY RETIREMENT INCOME METHANISMS IN THE UNITED STATES |
| title_sort | review of key retirement income methanisms in the united states |
| topic | retirement Social Security ZUS pensions investments saving |
| url | http://www.wspolczesnagospodarka.pl/?p=1141 |
| work_keys_str_mv | AT jakubszpytma reviewofkeyretirementincomemethanismsintheunitedstates |