The city of Detroit and the state of Michigan want to use the city’s recent bankruptcy filing to reduce its employees’ pensions and minimize its enormous debt. Other US municipalities that are struggling to meet their costly pension obligations are watching this legal tug of war carefully. Today, pensions, social security programs and retirees’ depleted portfolios and savings accounts are global front-page news. This topical report by the World Economic Forum on retirement income presents intelligent proposals on how retirement income stakeholders can make their pension programs financially sustainable. These are tough issues, so any organization shedding light on this vexing global problem – and making sensible recommendations – performs a valuable service. getAbstract recommends this report to government leaders, financial executives and, most notably, to all retirees, present and future.
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The World Economic Forum is an independent international organization that works with business, political, academic and other leaders to debate global, regional, and industry issues.