The Long View
The Long View
May 26, 2021
Andrew Biggs: Create a Thrift Savings Plan for the Masses
Play ā€¢ 52 min

Weā€™ve been exploring the state of retirement in the United States on The Long View. Last week, we talked with progressive labor economist Teresa Ghilarducci. On this weekā€™s episode, we chatted with Andrew Biggs, resident scholar at the American Enterprise Institute. He is more sanguine about the state of retirement in the U.S., though he is also in favor of some reforms. Andrew is an expert on Social Security reform, state and local government pensions, and public sector pay and benefits. Before joining AEI, Biggs was the principal deputy commissioner of the Social Security Administration, where he oversaw the agency's policy research efforts. In 2005, as an associate director of the White House National Economic Council, he worked on Social Security reform. In 2001, he joined the staff of then-President George W. Bush's Commission to Strengthen Social Security. He holds a bachelor's degree from Queen's University Belfast in Northern Ireland, master's degrees from Cambridge University and the University of London, and a Ph.D. from the London School of Economics.

Background

Bio

The American Enterprise Institute

State of Retirement in the U.S.

The Model of Income in the Near Term (MINT)

National Retirement Risk Index

ā€œSocial Security Replacement Rates and Other Benefit Measures: An In-Depth Analysis,ā€ Congressional Budget Office, cbo.gov, April 2019.

ā€œHow Do Children Affect the Need to Save for Retirement?ā€ by Andrew Biggs, aei.org, Dec. 16, 2019.

ā€œTwo Decades Ago, Progressives Warned of a Retirement Crisis. It Didnā€™t Happen,ā€ by Andrew Biggs, forbes.com, May 29, 2020.

ā€œOpinion: Hereā€™s Some Good News for Parents Struggling to Save Enough for Retirement,ā€ by Andrew Biggs, marketwatch.com, Jan. 26, 2020.

ā€œImproving the Measurement of Retirement Income of the Aged Population,ā€ by Irena Dushi and Brad Trenkamp, ssa.gov, January 2021.

ā€œAt Last, Some Action on Misleading Retirement Income Statistics,ā€ by Andrew Biggs, aei.org, April 29, 2021.

Social Security

ā€œStatus of the Social Security and Medicare Programs: A Summary of the 2020 Annual Reports,ā€ ssa.gov.

ā€œObama Appoints Social Security Critic to Fix Puerto Ricoā€™s Budget,ā€ by David Dayen, theintercept.com, Aug. 31, 2016.

ā€œSocial Security Benefits Arenā€™t Earned If You Didnā€™t Pay for Them,ā€ by Andrew Biggs, forbes.com, March 12, 2020.

ā€œAmericans Want to Own Their Retirement, not Expand Social Security,ā€ by Andrew Biggs, realclearmarkets.com, June 19, 2020.

ā€œFactcheck: Do 40% of Retirees Rely on Social Security for Their Entire Income?ā€ by Andrew Biggs, forbes.com, Jan. 27, 2020.

ā€œPWBM Budget Contest: A Flat Benefit for Social Security,ā€ by Andrew Biggs, budgetmodel.wharton.upenn.edu, Jan. 26, 2021.

ā€œSocial Security Reform Can Boost the Economy--or Hold it Back,ā€ Andrew Biggs, Washingtonexaminer.com, March 26, 2021.

Retirement Savings and Decumulation

Thrift Savings Plan

ā€œHow Generous Are Federal Employee Pensions?ā€ by Andrew Biggs, aei.org, Sept. 30, 2011.

ā€œCan Retirement Saving Increase Your Debt?ā€ by Andrew Biggs, forbes.com, Jan. 8, 2018.

ā€œHow Hard Should We Push the Poor to Save for Retirement?ā€ by Andrew Biggs, aei.org, May 6, 2019.

ā€œOpinion: Stop Pushing Poor People to Save More for Retirement,ā€ by Andrew Biggs, marketwatch.com, Sept. 12, 2019.

ā€œFactcheck: Will Half of Americans Over 55 Retire Poor?ā€ by Andrew Biggs, forbes.com, Oct. 8, 2020.

ā€œFollow the Facts: Employer-Based Retirement Savings Are Stronger Than Ever,ā€ by Andrew Biggs, forbes.com, Aug. 21. 2020.

ā€œOpinion: Now That Annuities Can Be Part of Your 401(k), Hereā€™s How to Make Them More Palatable,ā€ by Andrew Biggs, marketwatch.com, Jan. 11, 2020.

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