Retirement Savings Issues Being Studied by the Bipartisan Policy Center

Published on August 24, 2014


A Washington, DC think tank, the Bipartisan Policy Center (BPC) is taking a hard look at the problem of Americans not saving enough for their retirement. The non-profit organization formed a Commission on Retirement Security and Personal Savings this spring to examine “whether savings rates and available savings vehicles are meeting the retirement goals of Americans and the nation’s investment needs” according to its website, The commission will then devise recommendations on how to boost national savings, improve the defined contribution retirement system, improve the effectiveness of tax-advantaged savings vehicles (such as Traditional and Roth IRAs) and develop safeguards against the rising costs of long-term care.

One reason for the decrease in retirement savings is that defined benefit pensions, once the stronghold of prior generations’ retirement income, are also decreasing. Today’s retirees are leaning on other savings arrangements such as defined contribution plans (such as 401ks) and their Social Security benefits (which were never meant to be the whole of anyone’s retirement income). However, with the rise of self-employed individuals or those employed by companies that do not offer payroll-deduction savings plans, it is becoming increasingly difficult for many Americans to deal with forced savings. They are simply not putting enough away in their IRAs or other vehicles and those who are approaching retirement age have inadequate savings set aside to maintain their current standard of living.

The BPC’s commission is studying:

Its final report will be presented in early 2015.

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