In an age of unprecedented longevity, a focus on lifelong individual financial security has never been more crucial. The mission of the Financial Security Division is to bring a unique interdisciplinary perspective to financial security issues facing our society by rethinking the perceived problems around an aging population, especially retirement planning and the need to work longer. By understanding the role that research, education and policy can play in solving these issues and by looking at the problems from multiple perspectives, we will drive the dialogue forward in order to facilitate a healthier state of long-term financial security for the individual and society.

Center Team

Martha Deevy
Jialu Streeter, PhD
Steve Vernon, FSA

New Map of Life

Financial Security: Matteo Leombroni, PhD, Fellow | Gopi Shah Goda, PhD, Faculty Advisor
Work: Alice Milivinti, PhD, Fellow | David Rehkopf, PhD, Faculty Advisor

Is There Really a “Retirement Crisis”?
By Steve Vernon, FSA,  SCL Consulting Research Scholar
There has been much coverage in the media in the past few years about a “retirement crisis” – one in which Social Security goes bankrupt and retirees who haven’t saved enough money have to move in with their kids. Many articles and reports take it for granted that such a crisis exists, and there’s no shortage of proposed solutions to address the crisis.

The trouble is, funding from governments and employers to address perceived retirement shortfalls might be scarce in a post-pandemic world. To make the best use of available resources, we’ll need to look closely at the definition of “crisis” and identify the groups that really need the most help.

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