With the decline of traditional pension plans, 401k) plans and IRAs are now the dominant retirement vehicle in America. Many older workers are approaching their retirement years with no pensions, and they have a number of important questions that will influence their decision about how and when they can retire.

Do they have enough money to retire? How will they deploy their savings in retirement? When should they claim Social Security? These are complex questions that are difficult for many older workers to answer effectively.

In collaboration with the Society of Actuaries, the Center has completed a major study of retirement income strategies that integrates IRAs, 401(k) plans, and home equity. This study has identified a straightforward strategy that can be implemented in virtually any IRA or 401(k) plan, possibly with minimal input from a financial adviser. It’s called the Spend Safely in Retirement Strategy. It should help older, middle-income workers make important life decisions, such as how long they should continue to work full time, whether they should transition into retirement with part-time work, when they can fully retire, and how much money they can spend in retirement.

Read the report