Working to find actionable solutions to the nation's key challenges.

The road to retirement is complex, and many Americans are anxious about their financial future. The challenges are difficult, but we can overcome them, ensuring a better retirement for all. That’s why the Bipartisan Policy Center launched the Commission on Retirement Security and Personal Savings in 2014. Over the last two years, our 19-member Commission has carefully reviewed the issue and deliberated upon many potential approaches to boost savings and strengthen retirement security.

Take a look and get to know what we’re up against and how we can meet the challenges.

Challenge: No Workplace Retirement Savings Plan

Recommendation:

  • Establish Retirement Security Plans to help smaller businesses offer a savings plan for retirement.
  • Establish a nationwide minimum coverage standard to expand access to workplace retirement savings.

Challenge: Leakage from Retirement Accounts

Recommendation:

  • Simplify the process to move assets from plan to plan.
  • Facilitate short-term savings by clearing barriers to auto-enrollment in multiple savings account.

Challenge: Outliving Savings

Recommendation:

  • Encourage plan sponsors to integrate easy-to-use, sophisticated lifetime-income features. 

Challenge: Underutilizing Home Equity

Recommendation:

  • End subsidies that encourage the use of home equity for pre-retirement consumption.
  • Strengthen programs that advise and support consumers on reverse mortgages.

Challenge: Limited Knowledge of Personal Finance

Recommendation:

  • Improve personal financial education in K-12 and higher-ed curricula.
  • Better communicate the advantages of claiming social security benefits later.

Challenge: Social Security is at a crossroads

Recommendation:

  • Ensure program solvency for 75 years and beyond.
  • Protect beneficiaries from abrupt changes.