Guaranteed Retirement Accounts: Everything You Need to Know
Guaranteed Retirement Accounts (GRAs) are universal, affordable, and portable accounts that provide workers with a monthly paycheck in retirement that lasts the rest of their lives.
See below for a list of documents with all the facts on GRAs:
"A Primer on GRAs and How They Work" explains how Guaranteed Retirement Accounts address the retirement crisis.
According to Gallup, running out of money in retirement has ranked as one of Americans’ top concerns since 2001 (Saad 2018). That’s not surprising. Our current patchwork, do-it-yourself retirement system means many workers don’t have access to a retirement account. And, for those who do, they find that the burden—of what to invest in, how to invest, and how to withdraw savings—falls on them, even though they have neither the time nor the expertise to make these choices.
The shift from traditional pensions to 401(k)-style plans, the increase in life expectancy in retirement, and the decline in Social Security benefits as a share of earnings all contribute to more acute retirement anxiety for Americans. But Guaranteed Retirement Accounts are a key policy solution to the retirement crisis. Read the primer to learn how they work, who they would help, and how we got here.
- “Frequently Asked Questions About GRAs" explains some of the most frequently asked questions about GRAs.
We need a retirement system that meets the needs of a 21st century workforce. American workers switch jobs more frequently than those in most high-income countries, and most are living longer than they did in decades before. Half of all American workers have nothing saved for retirement. Thus it is no surprise that running out of money in retirement is a major source of anxiety for Americans of all ages. The good news is that we have a proposal to ensure that all workers can easily save and, when they retire, receive a monthly paycheck for life. It’s called a Guaranteed Retirement Account. Read our FAQ document for answers to the most common questions about GRAs.
- “Guaranteed Retirement Account Endorsements" Find endorsements of our Guaranteed Retirement Account proposal
From Martin Luther King III, president, CEO, and co-founder of Realizing the Dream Institute for Global Peace to Dolores Huerta, president and co-founder of United Farm Workers of America, read what leaders have to say about Guaranteed Retirement Accounts.