This paper examines the potential effects of the U.S. Department of Labor, Employee Benefits Security Administration's proposed rule 29 CFR Part 2510, Definition of the Term "Fiduciary" on people with Individual Retirement Accounts.
Policymakers in Western countries seeking new policy levers to tackle costly lifestyle behaviors in the age of austerity may do well to take up programs based on cash incentives. Recent analysis of conditional payment programs in Latin America highlights some useful lessons.
In 1997, Mexico transformed its pay-as-you-go social security system to a fully funded system with personal retirement accounts, including management fees. This article examines changes in retirement wealth resulting from this new system.
There are reasons to believe American students from the middle- and lower-income tiers aren't making affordable college choices. Can a new ratings system help them make better, more affordable decisions?
Today, Democrats are more than six times likelier than Republicans to believe the U.S. government should play a role in reducing income inequality. This is not due to differences in age, gender, education, or income distributions among the two parties.
Because people consume less in their golden years, the conventional wisdom that most Americans are financially unprepared for retirement doesn't hold up. Evidence suggests that about 71 percent of older Americans are adequately prepared for retirement.
Women with higher loan balances may be less likely to get married than their peers with lower or no loan balances. But as time goes on, young adults adjust to their post-college financial situation and eventually get promotions, earn raises, obtain other assets, and get married.
Spending declines at small rates at retirement, rates that could be explained by mechanisms such as the cessation of work-related expenses, unexpected retirement due to a health shock or by the substitution of time for spending.
One of the chief aims of the Affordable Care Act (ACA) is the expansion of insurance coverage to individuals who at present either cannot afford it or choose not to purchase it. Unfortunately, many Americans lack the financial literacy needed to navigate the numerous and complex options thrust upon them by the ACA.