Pursue multiple strategies—financial security in retirement requires a strong Social Security system, protection of pension promises, effective retirement plans and savings vehicles, and freedom from employment discrimination.
Improve access and adequacy—all workers, regardless of industry, employment status or occupation, should have access to savings vehicles that facilitate financial security and stability, have reasonable costs, and mitigate existing racial and economic disparities.
Ensure equity—savings subsidies, incentives, and structures should be distributed equitably and effectively, with particular attention paid to people who have the most difficulty saving.
Recognize diversity—savings approaches must address people’s various needs, circumstances, and access to financial institutions. Solutions should be designed to build on existing cultures of savings and financial security for older people and their families.
Protect and empower consumers—savers throughout the lifespan deserve clear choices, appropriate and accurate guidance, and the ability to rely on commitments made by employers.