When it comes to retirement, Americans are on their own. The security of company pension plans? Fast disappearing. In its place? The promise of the stock-dependent 401(k). In the booming market of the 1990s, American workers watched their retirement funds skyrocket. Then, recession settled in. Companies went under, stocks dwindled down to nothing, and thousands of employees watched their retirement savings all but disappear. This hour, negotiating retirement, in good times and bad.
Teresa Ghilarducci, Associate professor of economics at Notre Dame University
author of Labor's Capital: The Economics and Politics of Private Pensions;
Alicia Munnell, Director of the Center for Retirement Research at Boston College
This program aired on January 23, 2002.