PSC Associate Olivia S. Mitchell discusses what longer lifespans may mean for aging workers. Between ageism in hiring, a shaky Social Security system, and changes to rules regarding annuities, the future of retirement looks uncertain on Knowledge@Wharton podcast. “Since retirement planning is so nuanced and complicated, it would behoove many to work longer, save more, and expect less,” she says.
In a Penn Today article and on Knowledge@Wharton, Olivia S. Mitchell discusses the Treasury Department’s decision to allow private companies to pay retirees lump-sum pension payments. The move may benefit companies, but Mitchell believes the federal government should assess the long-term implications. “If we look at the retirement picture, we have to understand the incentives we are putting in people’s way—or the disincentives to save,” she explains.
On Knowledge@Wharton, Olivia S. Mitchell discusses an American Economic Association survey that reveals high levels of gender and racial bias in the field of economics. “It’s very depressing, actually,” says Mitchell. “I’ve been teaching for 40 years now, and, sure, 40 years ago there were very few women in the profession. You stood out. You were sometimes made to feel uncomfortable or awkward. But I had hoped that today things would be much better.” Penn Today.
New research from PSC ressearcher, Olivia S. Mitchell, a Wharton professor of business economics and public policy, attempts to answer these questions. The paper, “Evaluating Lump Sum Incentives for Delayed Social Security Claiming,” was co-authored with Raimond Maurer, a finance professor at Goethe University in Frankfurt, Germany. Mitchell, who also serves as director of Wharton’s Pension Research Council, recently appeared on the Knowledge@Wharton radio show on SiriusXM to discuss their findings.
Olivia S. Mitchell and co-authors have published a new book titled How Persistent Low Returns Will Shape Saving and Retirement. Financial market developments over the past decade have undermined what was once thought to be conventional wisdom about saving, investment, and retirement spending. Read more here.
Olivia S. Mitchell spoke at Centre for Research on the Economics of Ageing (CREA) at Singapore Management University (SMU)'s Lee Kong Chian School of Business' roundtable on ageing and financial preparedness in Singapore.
Olivia Mitchell and co-authors' research, "Borrowing from the Future: 401(k) Plan Loans and Loan Defaults," was quoted in a Nasdaq article on 401(k) loans
Olivia Mitchell's article, "Simplifying Choices in Defined Contribution Retirement Plan Design," was quoted in a Forbes article about investments and saving for the future.
Americans are more likely than ever before to enter retirement carrying debt, which leaves them vulnerable to rising interest rates. Olivia Mitchell emphasizes the importance of the housing market and easier mortgage products as factors in driving this debt increase in older households. Read the column and her study here.
Olivia S. Mitchell writes in the Wall Street Journal about why people don't purchase long-term-care insurance policies.
Olivia Mitchell comments on the practice of living abroad after retirement to make the most of your savings.
Mitchell is quoted in an article on retirement entitled "What's Driving Americans to Retire Abroad? Money -- or Lack of It" in Knowledge@Wharton.
Olivia Mitchell comments on "rethinking the definition of retirement" in "When Downsizing for Retirement Makes Dollars and Sense."
Olivia Mitchell comments on more women becoming statisticians in the article, "In a calculating, chaotic world, statisticians are almost cool."
Olivia Mitchell of the Wharton School discusses state-sponsored benefits costs that States must fill: a $1 Trillion Pension Gap, in the Miami Herald. (2/18/2010).