The Retirement Policy Trends Of America And Sweden Essay
Policy Trends in America
The retirement system in America consists of three main options; Social Security, qualified plans, and individual retirement accounts (IRA’s). Many of these plans are a part of the private sector and are operated by individuals and companies, rather than the government.
Social Security was an idea originally founded by the Social Security Act of 1935. The Great Depression is one of the main reasons as to why Social Security benefits exist today. Social Security affects many individuals and families across the country by helping provide benefits to older workers who have retired, to workers who have become disabled, and to families who have lost a spouse or a parent (“Social Security: Understanding the Benefits,” 2015. pg. 4 ¶ 2).
The Social Security system can be described as a “pay as you go” system, in which the…