Schwartz Lecture by Atlanta Fed President Raphael Bostic Provokes Rich Dialogue | In these times of broadening precarity, how can Americans build wealth, economic mobility, and security as they grow older? What can policymakers do to give financially fragile aging Americans a fighting chance, and build greater economic equality? This crucial question was the focus of this year’s Schwartz Lecture, by Dr. Raphael Bostic, president of the Federal Reserve Bank of Atlanta.
American workers’ access to retirement savings coverage is getting worse. New data show that employer-provided retirement coverage for all workers dropped 4 percentage points between 2014 and 2017 to 40%. Coverage for those nearing retirement - workers ages 55 to 64 - fell 7 percentage points to 44%.