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The financial crisis may make new retirees more dependent.
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On the affordability issue, developers say that retirees typically need an annual retirement income of at least $50,000 from pension benefits, Social Security and personal investments to make new unsubsidized senior housing affordable.
New proportions make new fashion.
The union has also agreed, Mr. Gettelfinger said, to delay the payments that the automakers must make to a new retiree health care fund called a Voluntary Employee Beneficiary Association, or VEBA.
Falling bond yields make annuities more expensive, giving new retirees much less pension income for their money, leaving them permanently poorer in retirement.
More important, the choices you make now as a new retiree may have consequences down the line when your health care and financial needs change.
Mr. Turner said that financially, it would be impossible in the long term not to make significant changes to social programs that affect new retirees.
While a Congressional ad hoc COLA for current beneficiaries is unjustified, given that the real purchasing power of today's benefits has increased, redress for new retirees over the next several years makes sense.
DECLINING market returns have had an immediate impact on new retirees.
While centrist plans would raise payroll taxes for the affluent and reduce benefits scheduled for many new retirees in future decades, the progressive plans would only raise taxes to make the program solvent until late in the century.
This "boxed-economy" or "lump of labor" view of the world certainly makes sense on the surface as it is intuitive that a one-to-one relationship exists between new retirees and new jobs for younger workers.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com