Asset Building Financial Inclusion Report

Toward Progressive Pensions: A Summary of the U.S. Pension System and Proposals for Reform

The purpose of this paper is to review the current pension system in the United States, including its shortcomings for lower-income workers, and to evaluate different proposals for reform. Our conclusion is that the approach embodied in the legislation likely to become law in 2001 is fundamentally flawed and that a progressive matched savings program represents a much more auspicious mechanism for boosting retirement security among lower-income workers.

Citation

Orszag, P., & Greenstein, R. (2000). Toward progressive pensions: A summary of the U.S. pension system and proposals for reform (CSD Policy Report No. 00-23). St. Louis, MO: Washington University, Center for Social Development.