ABSTRACT
Due to the confluence of many factors, financial security in retirement has taken on increasing prominence in the media, the public mind, and the national political agenda. These factors include:
The upcoming retirement of the great baby boomer generation The gradual aging of the population in the United States and around the world The growing funding gap for the national Social Security and Medicare programs The disappearing of traditional pension benefits among workers in the private sector The increasing cost of providing retirement benefits to public sector employees The high growth rate of medical costs The low savings rate among Americans
The effect of these factors is that financial security in retirement has become more uncertain for the current younger generation of workers than for the current retirees or workers who are soon to retire.
