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Trump administration deports hundreds of immigrants, even as a judge orders removals be stopped; Sierra Club sues DOGE over mass firings; Lack of opportunity pushes rural Gen Zers in AZ out of their communities; Fixing one problem, creating another? Ohio's lead pipe replacements.

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Secretary of State Rubio pledges more arrests like that of student activist Mahmoud Khalil. Former EPA directors sound the alarm on Lee Zeldin's deregulation plans, and lack of opportunity is pushing rural Gen Zers out of their communities.

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Farmers worry promised federal reimbursements aren't coming while fears mount that the Trump administration's efforts to raise cash means the sale of public lands, and rural America's shortage of doctors has many physicians skipping retirement.

A possible shift seen in America's troubled retirement savings landscape

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Thursday, February 13, 2025   

Whether it's pressure from inflation or health-care costs eating away at savings, a reliable "nest egg" is still up in the air for many Americans.

There are calls to bring more certainty and retirement simplicity to the table for workers. Pensions offered to public employees are seen as more stable because they're not shaken by movements in the financial markets.

In recent polling from the National Institute on Retirement Security, 86% of Americans say all workers, including the private sector, should have a retirement plan that is more pension-driven.

Dan Doonan, executive director of the National Institute on Retirement Security, says retirement coverage is still too spotty for non-wealthy workers, leaving them on their own to put away savings.

"In general, we're just asking way too much of individuals to get all this right. And saving during the middle years of your life to provide income throughout retirement, it really is a challenging endeavor," he explained.

He added the good news is that more states, including Minnesota, are setting up programs that enroll private-sector workers in an IRA-style plan.

The goal is to step in when a company can't or won't offer retirement perks. Experts say they're easy for states to operate and benefit small businesses because they don't have to contribute. But for the workers, the IRAs typically have lower contribution limits, meaning the retirement savings might not stretch as far.

Just like state and local governments, Doonan said a more simplified network of retirement programs around the country can help companies in the private sector avoid staff turnover.

"As they do move in that direction, I think what you'll see is more loyalty in return to the company. So, there are some benefits for private employers, especially employers who value retention," he continued.

Congress has taken its own steps by adopting policies such as the Secure 2.0 Act, which updates federal rules dealing with retirement plans in hopes of boosting access. Doonan said those reforms could steer more people toward savings accounts similar to pensions. But he warns rising health care costs for older populations still could put a damper on things. And partisan divides remain in Congress over the future of Social Security.


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