Frank P. Stafford

Stafford finds shrinking proportion of labor force with retirement accounts

MiCDA News Reference

"U-M Analysis: Fewer Have Retirement Funds, More Raid Them" - CBS - Detroit. 02/06/2013.

Frank Stafford and Thomas Bridges found that over the past decade a smaller percent of Americans initiated retirement accounts and more were dipping into them prior to retiring. Although defined benefit plans restrict pre-retirement withdrawls, other types of now-common options do not. Stafford says: ““If you leave people to their own devices, it’s tempting for them to use this money before they retire... So allowing pre-retirement access to these funds is a problem.” Full paper.

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Frank P. Stafford

More employees are raiding their retirement accounts. CNN - Fortune 2/27/2013.

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