The Effects of Recent Turmoil in Financial Markets on Retirement Security (PDF; 90 KB)
Source: Congressional Budget Office
From CBO Director’s Blog:

The turmoil in financial markets has affected many aspects of the economy, including pensions. The most direct effect on pensions is through the prices of financial assets such as corporate equities and bonds. The Standard & Poor’s 500 stock market index, for example, has fallen by more than 25 percent over the past year as the outlook for the economy and corporate profits has worsened. Because the majority of pension assets are held in equities, drops in stock prices have had a significant adverse effect on pension plans.

See also: Financial Crisis Deepening Retirement Insecurity, Witnesses Tell Congressional Panel (U.S. House Education and Labor Committee)

This entry was posted on Wednesday, October 8th, 2008 at 11:44 pm and is filed under Age and Aging, Business and economics, Government and politics, Labor. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.