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Articles by Angela M. Antonelli
Should Clients Fear Private Market Assets In Their 401(k)s? New Research Says No
The Department of Labor will soon finalize a rule that will meaningfully benefit retirement savers. Originally proposed in March, the rule provides safe harbor for fiduciaries selecting investment options for 401(k)s and other defined contribution plans, thereby expanding access to alternative investments for savers and investors. The Department has received more than 46,000 comments in response to its initial proposal, many asserting the rule is too novel of a step.
Should Clients Fear Private Market Assets In Their 401(K)? New Research Says No
The Department of Labor will soon finalize a rule that will meaningfully benefit retirement savers. Originally proposed in March, the rule provides safe harbor for fiduciaries selecting investment options for 401(k)s and other defined contribution plans, thereby expanding access to alternative investments for savers and investors. The Department has received more than 46,000 comments in response to its initial proposal, many asserting the rule is too novel of a step.
The Cost of Federal Regulation
If lawmakers want to lower the cost of government, they need to do more than cut taxes. They need to pare back federal regulations-those countless rules that drive up business and consumer costs. In fiscal year 1998, 53 federal departments and agencies spent $17 billion writing and enforcing regulations. The General Accounting Office, the federal government's spending watchdog, estimates that between April 1996 and March 1999 agencies issued 12,925 final rules.
D.C. Pension Geeks: Angela M. Antonelli
Talk about a timely topic—the passage and adoption of state-facilitated retirement savings programs (usually auto-IRAs) continues, with the latest, Minnesota, happening in mid-May. It’s something that the Center for Retirement Initiatives (CRI) at Georgetown University’s McCourt School of Public Policy was designed specifically to help advocate for, according to Angela M. Antonelli, its executive director.
BG1191es: Results Act Hands Congress Five Reasons to Pull the Plugon the Department of Energy
June 16, 1998 3 min read Download Report Angela Antonelli Visiting Fellow The 103rd Congress passed the Government Performance and Results Act in 1993 to make federal agencies more responsive and accountable to the American people. The Results Act requires agencies to submit strategic plans to Congress that clearly specify their missions and goals.
Opinion: Why alternative investments belong in 401(k) plans
Most people are not investment experts, so they need help managing their retirement savings. Retirement plan fiduciaries recognize this, and it is one of the reasons why target date funds (TDFs) have become the most popular investment offered by plan sponsors. Experienced professionals use their expertise and knowledge to arrange a mix of assets in TDFs to provide the best possible outcome for retirees.
Opinion: Queen Elizabeth and the future of U.S. retirement reform
With Queen Elizabeth’s “Royal Assent,” the United Kingdom recently adopted groundbreaking pension legislation allowing the creation of Collective Defined Contribution (CDC) pension plans. Research shows these “pooled” plans have the potential to generate substantially better retirement income. In the wake of passage of the SECURE Act of 2019 in the US, strong bipartisan support remains in Congress for additional reforms to expand access to savings and support lifetime income.
40 Million More Americans Could Save For Retirement By 2040 With Universal Access To Savings
40 million more workers could save for retirement by 2040 if there were national universal access to ... [+] retirement savings options getty Having a way to save for retirement should not depend on where you live and whom you work for, yet 46% of private sector workers — 57.3 million people — lack access to this critical tool for accumulating savings and generating income when they retire.
America’s Looming Retirement Crisis | NOEMA
Credits Angela M. Antonelli is a research professor and the executive director of the Center for Retirement Initiatives at Georgetown University’s McCourt School of Public Policy. Ross Berg is a senior research associate with the Center for Retirement Initiatives. When Ida May Fuller of Ludlow, Vermont received the first-ever monthly Social Security benefit check on January 31, 1940, retirement looked very different for most Americans.
What has COVID-19 done to our retirement savings?
Outside the Box Published: Sept. 8, 2020 at 12:03 p.m. ET Consequences and opportunities in the crisis THE PEANUTS MOVIE, (aka SNOOPY AND CHARLIE BROWN THE PEANUTS MOVIE), from left: Charlie Brown (voice: Noah Schnapp), Lucy (voice: Hadley Belle Miller), 2015. TM and Twentieth Century Fox Film Corporation.
The COVID-19 Crisis Must Accelerate The Transformation Of Retirement Savings
Getty Few things have had as sudden and dramatic an impact on the lives of individuals and the health of the global economy as the coronavirus pandemic. Seemingly overnight, our daily routines are upended, our financial well-being is called into question, and fear is giving hope a run for its money. Governments around the world have aggressively stepped in to address the health and economic consequences of COVID-19.
6 Steps To Reduce Financial Fragility And Protect Retirement After COVID-19
Getty As the COVID-19 pandemic strains our healthcare system and brings the economy to its knees, the financial fragility of millions of Americans has been laid bare. The stark reality of how ill-prepared many are to weather any kind of short-term economic shock has become readily apparent. Following the Great Recession of 2008, it is not clear much was learned, and it seems little was done to improve the long-term economic stability of America’s families and workers.
There Is An Easy Way To Avoid Billions In Lost Retirement Savings - But We’re Not Doing It
Getty At one point or another, we all decide not to do something because it would be too difficult. In fact, many of us may be feeling that way about some of our New Year’s resolutions right about now. These decisions often have no lasting impact. Unfortunately, when it comes to retirement savings, the cost of inaction can be significant.
When it comes to financial angst, boomers and millennials have more in common than they think
The “OK, boomer” meme that has swept the internet this year provides an outlet for younger generations to tell their elders that they just don’t get it. Yet as baby boomers retire, they’re less concerned with memes and more worried about whether things will be OK for them as they grow older. It’s a question all generations should be concerned about as an aging global population comes up against a younger workforce that is experiencing substantial change and struggle.
Time To Break Down The Barriers That Prevent Americans From Choosing To Work Longer
Getty Americans increasingly believe that they won’t be able to retire at age 65 and enjoy financial stability in old age. In fact, 1 out of 3 workers recently surveyed by the Employee Benefits Research Institute expect to work until at least age 70 or never retire. Yet those who either want or need to keep working must overcome significant obstacles.
Are millennials destined to live longer and retire poorer than their parents?
The latest research paints a grim picture of what retirement could look like for millennials — and we should all be concerned. In the developed world, no country has a higher concentration of millennials than the United States. They represent America’s future, but many have gotten off to a worse start than previous generations. Millennials earn less annually on average ($40,500) than similarly aged individuals just a decade ago ($43,300).
5 Expenses That Could Derail Your Retirement Plans – And How To Keep on Track
Getty Most of us have some vision of what we would like our golden years to look like. We all have different ambitions: strolling on the beach, traveling the world, reading in a rocking chair beside a lake, hitting the golf course every day, spending time with family and friends, or thousands of other permutations. When we talk with each other about retirement, those are the things we emphasize. We don’t dwell much on the things that might disrupt our perceptions of an ideal retirement.
6 Ways to Generate Lifetime Income in Retirement
Getty Today, many more Americans bear full responsibility for saving for their own retirement. Unfortunately, the days of heading into retirement with a guaranteed monthly pension check provided by an employer lie in the rearview mirror. More than half of global retirement assets now sit in defined contribution (DC) plans such as 401(k) accounts. For those accounts, workers must choose to set aside a portion of each paycheck to accumulate a nest egg to rely on in retirement.
CalCPA Daily Clips: Aug. 19, 2019
CalCPA Daily Clips: Aug. 19, 2019 FollowShareFlip This magazine is private.
California Changes The Retirement Saving Landscape
Savers all over the country can benefit from this innovative program
9 ways California’s new retirement plan changes the retirement savings landscape
On July 1, private sector employers in California gained access to an innovative new program that enables them to facilitate retirement savings for their employees. In a state where half of all private sector workers do not have a retirement savings account or participate in a pension, CalSavers stands to make a significant difference in the lives of everyday workers. The program couldn’t be simpler.
Student loan debt makes 60 feel like the new 30 — and not in a good way
As we get older, it becomes increasingly popular to profess being young at heart and say things like “60 is the new 30.” Who wouldn’t want to feel and act younger? Unfortunately, the latest trend in turning back the clock isn’t quite so enjoyable. Research shows that student loan debt isn’t just for younger people anymore.
The retirement plan of the future: turning that pot of money into monthly income
The world of retirement savings recently reached a significant milestone that has important implications for workers and retirees: For the first time, assets in defined-contribution savings plans represent more than 50% of all retirement plan assets globally, according to Willis Towers Watson. While some defined-benefit pension plans still exist, many more workers today have to rely on defined-contribution plans (think: 401(k) and IRA accounts) to fund their retirements.
The retirement plan of the future: turning that pot of money into monthly income
The retirement plan of the future: turning that pot of money into monthly income The world of retirement savings recently reached a significant milestone that has important implications for workers and retirees: For the first time, assets in defined-contribution savings plans represent more than 50% of all retirement plan assets globally, according to Willis Towers Watson.
Emergency Savings Accounts Have the Power to Avoid Life-Changing Financial Disruption
It’s no secret that Americans are worried about having enough money set aside for retirement, with the Federal Reserve reporting that less than 40 percent of non-retired adults believe they are “on track” with their retirement savings. At the same time, only about 60 percent of Americans have enough savings to cover a $400 emergency expense. Americans experience more stress and worry today than at any other time in recent history, according to a new survey by Gallup.
New solutions are desperately needed to prepare millions of Americans for retirement
The deterioration of retirement security represents one of the greatest economic and financial challenges facing our nation today. The American population continues to grow older even as workers continue to have fewer resources set aside for their golden years. Over the next decade, 10,000 baby boomers will retire every day. By 2030, the population age 65 and over is projected to exceed 74 million, representing more than 20 percent of the total population.
How Technology Is Reshaping The Way Americans Prepare For Retirement
The stereotype of older Americans staring blankly at technology, seemingly befuddled at how to use modern devices, becomes more outdated by the day. Retirees increasingly use technologies like smartphones and the Internet to learn, shop, and stay in touch with friends and relatives. While individuals can reap the rewards of these innovations in retirement, technology will also play an important role in growing the retirement savings of today’s workers — long before they reach their golden years.
How to make target-date funds even better
Americans love products and services that don’t require a lot of hand-holding. Our smartphone cameras automatically detect faces and focus for perfect snapshots. Thermostats learn our preferences and adjust heating or cooling based on time of day and whether anyone is home. Some cars can now even relieve us from the misery of parallel parking. When it comes to our investments, a similar set-it-and-forget-it mentality has been popular for decades now.
From Dazed And Confused To Fun And Secure: How State Innovation Is Transforming Retirement Savings
States are developing and implementing innovative new ways to help workers begin to save for retirement. (Photo credit: Getty)Getty Luke Huffstutter, the owner of Annastasia Salon in Portland, Oregon, has 37 employees and had been looking for a retirement savings solution for them for years. He explored various options, including a traditional 401(k), and found that the fees were too high and the complexity too great.
Why planning for retirement is harder for women
How many of us have seen Grandma outlive Grandpa? Or Mom outlive Dad? Families try to help and plan for these major events, but it goes well beyond taking on supportive tasks such as yard work, driving to doctor’s appointments, and helping with shopping and cleaning. The issues women face leading up to and during retirement are unique, go beyond addressing daily tasks and require additional planning compared with previous generations due to changing economic and demographic factors.
This solution could save millions of people from poverty in their old age
The foundation of our government, the U.S. Constitution, was the result of a collaborative effort among the states. Throughout our history, the states have worked together to address the needs of their residents. One example of this collaborative spirit has been the creation of state-based savings programs to help parents save to pay for college for their children or help ensure the financial security of a disabled family member.
How financially secure is your retirement? Your account balance won’t tell you
Many of us can recall stories of parents and grandparents who spent 40-year careers working for a phone company or bank and retiring at age 60 with a defined benefit (DB) pension that supported them in their retirement with a monthly check for the rest of their lives. This predictable stream of retirement income, combined with Social Security or other personal savings or earnings, simplified planning for those who retired a generation ago, when the average lifespan was in the mid-70s.
Investing for retirement: a long-term game many workers aren’t even playing
As a bullish 2017 stock market continued its steady rise to record breaking levels, President Trump and others took the opportunity to highlight these gains for retirement savers and their 401(k)s. But that record-breaking streak came to end in early February as the stock market finally tumbled, reminding us that what goes up usually comes down.
Why this could be one of the best ways to invest in America’s future
Millennials, the generation born between the early 1980s and the mid-to-late 1990s, make up about one-third of today’s U.S. workforce. They are better educated than previous generations, with a greater proportion of them possessing a college degree. Because they have lived through the Great Recession, they are more risk averse. They are also more likely to begin to save earlier in their careers. Many millennials believe they will need to take action on their own to save for their retirement.
Retirement may be just a dream for these vulnerable workers
The holiday season is filled with shopping and celebrating and it’s also a time when the demand for seasonal workers also picks up. While the use of such workers has usually been cyclical, the overall practice of meeting staffing needs through shorter-term alternative work arrangements is increasing. We all know people who are in these roles, such as independent contract workers and temporary employees. Some do it for the flexibility and others out of necessity.
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People Need a Push When It Comes to Retirement Savings | RealClearMarkets
People Need a Push When It Comes to Retirement Savings Studies show that we are living longer and retiring later, but too many of us are not adequately preparing for retirement. People who do not save for retirement often do not have access to an employer-run retirement program, do not understand how much money they will need to save, or lack the financial knowledge to make the best investment decisions.Read Full Article »
Why ‘nudging’ works: People need a push when it comes to retirement savings
Outside the Box Published: Oct. 21, 2017 at 7:54 a.m. ET Richard Thaler knew barriers include lack of access to retirement programs, short term thinking and inertia Sometimes all you need is a little momentum. Getty Images/iStockphoto Studies show that we are living longer and retiring later, but too many of us are not adequately preparing for retirement.
The One Percent Budget Showdown: Clinton's Veto Threats In Perspective
October 7, 1998 Over an hour read Download Report Angela Antonelli Visiting Fellow As fiscal year 1998 comes to a close, Congress and the President still have considerable work to do to reach an agreement on most of the 13 annual appropriations bills. In light of this, on September 17, 1998, Congress passed a continuing resolution (CR) that allows the federal government to continue to operate until October 9, 1998 (FY 1999), at FY 1998 spending levels.
Can No One Stop the EPA?
July 8, 1997 36 min read Download Report Angela Antonelli Visiting Fellow Introduction On June 25, 1997, President Bill Clinton circumvented a long-established White House regulatory review process by endorsing a controversial Environmental Protection Agency (EPA) proposal that would tighten the National Ambient Air Quality Standards (NAAQS) for the allowable levels of particulate matter (PM) and ozone.2 Since 1981, Presidents have used executive orders to require that rules--especially...
How to Raise Take-Home Pay Without Destroying Jobs
May 17, 1996 12 min read Download Report Angela Antonelli Visiting Fellow (Archived document, may contain errors) No. 102 May 17,1996 HOW TO RAISE TAKE-HOME PAY WITHOUT DESTROYING JOBS MarkWilson Rebecca Lukens Fellow In Labor Policy and Angela Antonell! Deputy Director for Economic Policy Average American workers have become fru strated that their take-home pay seems to buy less and less.
BG1192es:Two Years and 8600 Rules: Why Congress Needs an Office ofRegulatory Analysis
June 26, 1998 4 min read Download Report Angela Antonelli Visiting Fellow Since 1994, Congress has taken modest steps toward improving the federal regulatory system through such laws as the Unfunded Mandates Reform Act of 1995, the Small Business Regulatory Enforcement Fairness Act, the Congressional Review Act (CRA), and Office of Management and Budget (OMB) Regulatory Accounting Reports.
Two Years and 8600 Rules: Why Congress Needs an Office ofRegulatory Analysis
June 26, 1998 12 min read Download Report Angela Antonelli Visiting Fellow For far too long, federal agencies have blamed Congress for many of the burdensome regulations they have crafted, and this blame has often been justified.
Executive Summary: The Levin-Thompson Proposal: How Regulatory Improvement Veers Off Track
On March 25, 1999, Senators Carl Levin (D-MI) and Fred Thompson (R-TN) introduced S. 746, the Regulatory Improvement Act of 1999. The impetus behind this initiative is a concern about the increasing number of expensive, one-size-fits-all rules with diminishing returns--regulators chasing smaller and smaller risks at greater and greater costs--and the lack of accountability of regulators to the public for decisions they make.
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