Retirement Benefits

Retirement benefits refer to the financial supports and protections provided to individuals after they exit the workforce, typically due to age. In the U.S., these benefits commonly encompass Social Security payments, pensions, 401(k) plans, and other retirement savings accounts. The intent is to ensure individuals have a steady source of income and financial security during their retirement years. With increasing life expectancies, consistent and sufficient income during retirement can influence the overall quality of life of citizens.

When evaluating political candidates or policies, voters might consider stances on the future of the Social Security system and potential reforms to ensure its solvency, views on regulations and protections for private retirement savings plans, such as 401(k)s and IRAs, initiatives around employer-sponsored retirement benefit programs, tax incentives or disincentives associated with retirement savings as well as approaches to improving financial literacy and awareness about retirement planning among the general public.