Teresa Ghilarducci

Trump’s Federal Retirement Account Is A Serious Step Forward President Trump announces a federal retirement savings plan with a $1,000 match. Will it close the coverage gap?

In my latest for @Forbes, I examine the President’s executive action on federal retirement accounts. Expanding access is a serious step forward in addressing the coverage gap -- but adequacy, equity, and Social Security reform remain essential.

www.forbes.com/sites/teresa...

Trump announces new retirement plan with federal match of up to $1,000 President Trump said he wants to fix what he called the "gross disparity" within the U.S. retirement system during Tuesday night's State of the Union address. He plans to do that with the creation of ...

I joined CBS News to discuss the President’s proposed retirement plan, including a federal match of up to $1,000 for workers without employer-sponsored savings plans. Here’s the conversation.

www.cbsnews.com/video/trump-...

Trump Targets 401(k) Gap With Savings Plan for Uncovered Workers Millions of private-sector workers without employer-sponsored retirement savings plans could gain access to new tax-advantaged plans similar to one in place for federal workers, President Donald Trump...

Bloomberg covers the President’s proposed retirement savings plan for workers without 401(k)s and references my earlier work on expanding access to well-designed, low-cost plans like the federal Thrift Savings Plan.

www.bloomberg.com/news/article...

Trump Outlines New Retirement Plan With Federal Match Workers without employer-sponsored plans could have an additional way to save

AARP reports on the President’s retirement proposal. “Expanding access is a meaningful step,” says Teresa Ghilarducci of the Wealth Equity Lab. Nearly half of full- and part-time workers still lack a workplace plan.

www.aarp.org/advocacy/sta...

Trump proposes new retirement accounts for workers without 401(k)s President Trump pledges to give private-sector workers without an employer-sponsored retirement plan access to new tax-advantaged accounts similar to those for federal employees.

New from @yahoofinance.com on the President’s proposal to create federal retirement accounts for workers without 401(k)s. Expanding coverage is an important policy question as nearly half of workers lack access to a workplace plan. Here’s what’s being proposed:
finance.yahoo.com/news/trump-p...

The Wealth Equity Lab responds to the President’s executive action creating federal retirement accounts for workers without employer plans. Nearly half lack access to a plan. Access alone isn’t adequacy, but closing that gap is a necessary first step.

www.economicpolicyresearch.org/all-press/we...

Saying Americans should “work a year longer to help the economy” ignores the truth: most can’t choose to work longer. Jobs, health, caregiving & a weak retirement system shape real outcomes. We need stronger retirement security & policies that match lived realities.

www.msn.com/en-us/money/...

California Billionaire Tax Debate Centers on Inequality and Belonging The California Billionaire Tax debate highlights inequality, low effective tax rates for the ultra‑rich, and the human impact of proposed cuts

The California billionaire tax isn’t just about revenue. It’s about belonging — and recognizing that giving back strengthens community, not just budgets.

www.forbes.com/sites/teresa...

California Billionaire Tax Debate Centers on Inequality and Belonging The California Billionaire Tax debate highlights inequality, low effective tax rates for the ultra‑rich, and the human impact of proposed cuts to health care and education.

www.forbes.com/sites/teresa... Some said my Forbes essay on taxes and neurotransmitters was a fresh new angle on the old topic of wealth taxes? Is it?

For many Americans, “retirement” accounts aren’t for retirement -- they’re emergency lifelines. Evidence shows workers are draining 401(k)s to cover basic needs, sacrificing future security. We need retirement reform.
@forbes.com

www.forbes.com/sites/teresa...

Trump Accounts vs. Baby Bonds: Who Truly Benefits? Explore how Trump accounts compare to baby bonds, why tax policy favors wealthy families, and what economists propose to close the racial wealth gap.

Thrilled that my latest piece was selected as today’s Forbes Editor’s Pick! My new piece is about the Dells’ $6.25B pledge to expand Trump’s child accounts — and why design flaws still leave many kids behind.

Read the article here: www.forbes.com/sites/teresa...

Call for Papers — ECONOMIC POLICY RESEARCH Reimagining the Economics of Late Life Institutions, Systems, and Investments Spring 2026 Conference – May 1, 2026 | The New School, New York City

Call for Papers!
Early-career economists & social scientists: Submit your research for our Spring 2026 conference, Reimagining the Economics of Late Life. We welcome work on aging, disability, equity & policy.

Deadline: Dec 31, 2025
More info & submit:
www.economicpolicyresearch.org/center-annou...

Social Security scraps plan to limit disability benefits after uproar The policy would have fundamentally altered who qualifies for the two federal disability programs by eliminating or limiting a person’s age as a factor to consider.

🚨A good surprise for a change!🚨
www.washingtonpost.com/politics/202...

Can the World Afford to Retire? How One Country is Addressing the Crisis Around the world, market forces – low interest rates, longer lives, workers changing jobs – are testing underfunded pension plans. We explore how the world should rethink financial security for aging ...

Honored to join Bloomberg TV Wall Street Week to discuss the urgent need to strengthen America’s retirement system. Other countries are taking meaningful steps - and there is a lot we can learn to ensure workers retire with dignity and security.

Full segment: www.bloomberg.com/news/videos/...

Trump’s 50-Year Mortgage: Lower Payments, Higher Lifetime Cost A 50-year mortgage is a re-timing device: it improves near-term liquidity but increases lifetime interest, slows equity, and extends leverage later into the life cycle.

New analysis: 50-year mortgages offer lower monthly payments — but at what cost? In my latest @Forbes piece, I dive into how stretching the term to 50 years may slow equity building and amplify lifetime interest burdens.

www.forbes.com/sites/teresa...

The Precarity Trap - ASA Generations Employment instability in midlife and the challenge of working full-time past age 62.

Precarious work in midlife doesn’t just affect today’s paycheck - it shapes when people can retire.

Read The Precarity Trap in Generations Journal:
by Duygu Başaran Şahin, Frank W. Heiland & Na Yin
generations.asaging.org/the-precarit...

Join us 12/2 for a Heilbroner Center event celebrating "The Contested Domain: Selected Writings on Marxism & Feminism" by Lise Vogel, edited by Kirstin Munro, Asst. Prof. of Economics, NSSR. The work spans five decades of Vogel’s work in Marxist & feminist theory.
event.newschool.edu/marxistfemin...

Supporting LGBTQ Older Adults in Retirement Through Research and Advocacy - ASA Generations Analyzing previous research in this cohort and new study group findings on financial issues in retirement.

New in Generations: “Supporting LGBTQ Older Adults in Retirement Through Research and Advocacy” explores the financial challenges LGBTQ+ elders face & calls for transformative approaches to Social Security and retirement policy.

Read more: generations.asaging.org/supporting-l...

Commentary: How can Newsom stay relevant? Become the new FDR The spotlight of Proposition 50 has gone cold. How can Gov. Gavin Newsom remain nationally relevant in his run for the White House?

“Automatic stabilizers” like unemployment insurance, healthcare access & Social Security are essential — not optional. The LA Times argues that bold leadership must restore the idea of government as the solution, not the problem.
Read the article: www.latimes.com/california/s...

The Social Security Retirement Earnings Test - ASA Generations What lower-income workers and retirees need to know.

Now in Generations Journal - The new article by Frank Heiland, Joelle Saad-Lessler & Karen Richman explains how the RET affects income and work decisions and why it’s often misunderstood by those most impacted.
generations.asaging.org/the-social-s...

Understanding Late Arriving Immigrants’ Social Security Eligibility and Retirement Security - ASA Generations This overlooked group faces steep barriers to finding work and then to accessing social safety net programs.

"Understanding Late Arriving Immigrants’ Social Security Eligibility and Retirement Security"
Almost half of Social Security “never beneficiaries” are immigrants who arrived later in life—working longer, yet often excluded from key benefits.

Read more: generations.asaging.org/understandin...

Left Behind Twice: Fixing Social Security for Formerly Incarcerated Elders - ASA Generations Older adults leaving prison face a Catch-22 of bureaucracy, digital ignorance and limited help when applying for benefits.

Formerly incarcerated elders are being left behind again—this time by the Social Security system. New research by christian gonzález-rivera & Ruth Finkelstein exposes the barriers and offers real policy fixes.
Read Left Behind Twice (Oct 22, 2025): generations.asaging.org/left-behind-...

Unseen Costs: How Providing Eldercare Impacts Work and Economic Security - ASA Generations Women are more likely to receive care, and many other findings from a study of HRS, ATUS, and CPS data.

Who pays the price of unpaid eldercare? Research in Generations Journal finds women & caregivers of color lose the most work time & financial security.
@jessforden.bsky.social @tghilarducci.bsky.social
generations.asaging.org/unseen-costs...

Caregiving and Retirement: Social Security and the Financial Strain of Eldercare - ASA Generations Caregivers often turn to Social Security payments to make ends meet, leaving them in a vulnerable position later in life.

Millions of Americans care for aging loved ones — but who cares for them? Our piece explores how unpaid caregivers manage retirement and financial strain, and why the U.S. needs to investment in long-term care.
@jessforden.bsky.social @erinsimmons.bsky.social
generations.asaging.org/caregiving-a...

Today’s Social Security COLA Is Inadequate For Three Reasons The 2026 Social Security COLA fails to match inflation because benefits lag, Medicare costs rise, CPI-W is quirky and older women lose most.

A 2.8% Social Security COLA ≈ $52/month. But most retirees say it won’t cover rising costs. Why the COLA is failing:
- Inflation outpaces the raise
- Medicare premiums offset gains
- Wrong inflation index for seniors
Read more: www.forbes.com/sites/teresa...
#SocialSecurity #COLA #RetirementCrisis

Contending With Home Care Needs After a Work Disability - ASA Generations Who tends to become disabled, what benefits are available for caregiving, and how might benefits impact household income long-term?

New in Generations: NYRDRC’s Jennie Kaufman & Na Yin explore how older workers with disabilities navigate home care needs—and the strain this places on families & benefit systems. Read “Contending With Home Care Needs After a Work Disability” here:

generations.asaging.org/contending-w...

Student Debt Is Not Just for Kids - ASA Generations A mixed-methods analysis of the impact of student debt on retirement security and claiming age

New easy-to-read publication out: Preliminary findings from mixed methods work on student debt and retirement, conducted by myself and @erinsimmons.bsky.social under @tghilarducci.bsky.social 's team at @scepa-economics.bsky.social and @nssrnews.bsky.social

generations.asaging.org/student-debt...

The Complex Impact of ‘On’ and ‘Off the Books’ Work - ASA Generations Estimating what we miss about direct care workers’ employment, earnings, and retirement savings.

The people who care for our loved ones often do so without protections or benefits. A new piece from Ruth Finkelstein and colleagues explores: What happens when vital care work goes ‘off the books’? #DirectCare #CareEconomy #Aging
generations.asaging.org/the-complex-...

Transformative Approaches to Social Security Benefits - ASA Generations Generations Journal, vol. 49, no. 3 (Fall 2025)

The SCEPA team is so proud to have work featured in the latest edition of Generations Journal, "Transformative Approaches to Social Security Benefits" on who Social Security leaves behind and why that must change. This is a call for equity, evidence & action.
generations.asaging.org/publications...

Donald Trump’s approval rating plunges with baby boomers Baby boomers were critical to Trump’s 2024 victory, when 51 percent of the age group voted for him.

President Trump’s weakening support among voters over 65 reflects growing economic anxiety, as nearly half of older workers approach retirement without enough savings to maintain their standard of living or even stay above the poverty line.

www.newsweek.com/donald-trump...