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Many commentators therefore evoke a return to KeynesDeveloping countries face an additional problemIn medical equipment the margin dropped by 13The case of Jacques Labeyrie has recently newsThe Finnish invoice approaching now the 4We were not able to manage them economicallyThe White Knight hopes to take a stake of 33Just as the latest air conditioning units5 the plan from that offset the worsening of the crisisThe challenge was architectural and logisticalThe collapse of financial markets has melted the plans of American retirement of at least 20 these fifteen months. An American in five age of at least forty-five years States have ceased to feed his savings account retirement over the past year without means, according to the study published this month by the American association of retired AARP. And one in three plans to push back the retirement of at least three years.
"Invasion of the U.S. retirement income security is one of the most catastrophic consequences of the financial crisis," confirms George Miller, representative Democrat of California and Chairman of the parliamentary commission on education and work. "When a calamity of this magnitude is rampant, it is the time of fundamental questions," he said at the time of the first day of hearings organized this month by the commission on the theme of the reform of retirement savings accounts 401 (k), the most hit by the crisis because the subject to the volatility of financial markets. "Between 35 and 45 of Americans have insufficient income to ensure their retirement", said Christian Weller, researcher at the Center for American Progress.
Historically, the U.S. pension system is designed to be based on three pillars: social security (Social Security) funded by the taxpayer, the pension fund with a guaranteed retirement income sponsored by the employer, and personal savings.
Social Security pays the average pensioner compensation corresponding to 40 of his salary. However, it is expected that contributions drop of 22 from 2041. At the same time, 58 from the Americans are covered by a retirement plan. Systematic in the public sector, the pension fund is optional in the private sector, where it is more than 5 of the employees, 60 in 1980. In total, 20 million individuals benefit yet. An increasing proportion of the population active (about 30, or 50 million employees) depends primarily to supplement its income from retirement accounts 401 (k) invested mainly in shares.
New legislation
Introduced from 1983, the 401 (k) accounts have multiplied especially since the second half of the 1990s by following a curve parallel to the prosperity of the financial markets. They are fed jointly by the employee and the employer and receive $ 80 billion in annual federal grants in tax exemptions. "The cost to the employer remains high but the level of compensation declined," said Christian Weller.
This last part of the experts who have recently submitted projects of reform on a common inspiration: imposing for the first time to businesses and employees a level of contribution and amend the Tax Code to align the rates of allowances between the different levels of wages. An approach criticised by companies, who denounce the attempt to control by the Government. If a radical reform, supporters and critics expect new legislation next year aimed at improving the reliability of the accounts 401 (k).
"Any legislation which aims to support our efforts is welcome, as for example better transparency on management fees," said Ed Ferrigno, Vice President of public policy for the association of employers benefit-Sharing/401 (k) Council of America. According to him, beneficiaries of investment education and implementation of automatic diversification of the portfolio based on the date of retirement are all tools to optimize performance.
