A Pew Discussion: The Effect of Insufficient Retirement Savings

On March 12, Pennsylvania State Treasurer Joe Torsella and ESI Director Ethan Conner-Ross joined The Pew Charitable Trusts in a discussion about a a new report, completed by ESI in January, quantifying the fiscal and economic costs of insufficient retirement savings. The repercussions of this savings deficit affect every state and include increased public assistance costs, reduced tax revenue, decreased household spending, and lower employment. The Pennsylvania specific study estimated these costs at $14.3 billion through 2030. The Philadelphia event was moderated by John Scott, who directs Pew’s retirement savings project. Listen to the entire discussion here:

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