The Labor Center conducts research on workers’ retirement prospects in the context of threats to Social Security, the decline of secure workplace pensions, and the shift to individual investment accounts like 401(k)s. We also assess state policies and proposals that aim to improve retirement security in California and nationally.
National- and state-level research on the crisis in retirement security.
Issues in public pension systems in California and other states.
This brief is intended to help policymakers and the public better understand the financial standing of Marin County’s public pension systems, the role of legacy liabilities vs. ongoing benefit accrual in employer pension costs, and the current trajectory of these costs.
Designed as a resource for policymakers and journalists, this brief explains how public pension costs are calculated and funded, and explains how reforms adopted by CalPERS, CalSTRS, and MCERA have put the systems on stronger footing in recent years. This is the second of three briefs in the Marin Public Pension Series.
There are large structural gaps in the employer-sponsored retirement system. I would like delve a bit into the kinds of workers who are left out, and why.
This brief examines the economic value of DB pensions—which provide secure monthly retirement income based on salary and years of service—for public employees, employers, and residents in Marin County.
A new research brief by the UC Berkeley Labor Center demonstrates how defined benefit (DB) pensions—which provide secure monthly retirement income based on salary and years of service—support a quality public sector workforce in Marin County.
September 29, 2022
Old age inequality: Can most Californians even afford to retire?
July 25, 2022
CalSavers: What to know about CA’s new retirement savings plan for workers without access
June 1, 2022
No retirement plan at work? Your boss may have to sign up for CalSavers soon. Here’s what to know
May 31, 2022
Marin Public Pension Series – Brief #2: Understanding the Financial Status, Cost, and Sustainability of Public Pensions in Marin County
May 5, 2022
We Need More Teachers. Retirement Benefits Help On This Front
“Social Security is a bedrock,” Nari Rhee, director of UC Berkeley Labor Center’s Retirement Security Program, testified at a federal hearing last year. But “the current average benefit of $1,500 a month is insufficient to cover basic needs for most retirees, given the cost of living.”
One study from the UC Berkeley Labor Center found that 7 out of 10 Latinos had no access to a workplace retirement plan and that over half of private-sector employees had absolutely no retirement assets.
By some measures, including a study from the U.C. Berkeley Labor Center, older-adult poverty in the Los Angeles area stands at nearly one in three seniors – the highest level in the state. Without aggressive intervention, this figure could mushroom further, because the “graying” population is forecast to double in size during the next 20 years.
Just 21% of California workers operating home-based day cares reported having some form of retirement savings, according to the center. Comparatively, 46% of Californians working in the private sector have a retirement plan, according to a report by the UC Berkeley Labor Center.
Rhee says workers are much more likely to save for retirement if there is a payroll deduction program at work.
Nari Rhee
Director, Retirement Security Program
