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Commentary: Without a national retirement policy, Americans face a future of pension crises
David S. Blitzstein
David Blitzstein
The last time Congress thought holistically about U.S. retirement policy was 40 years ago in 1981. The ill-timed President s Commission on Pension Policy established under executive order by President Carter in 1979 issued its report in early 1981, only to be discarded by the incoming Reagan administration and forgotten by future presidents and Congresses.
Perhaps it is time to revisit that forgotten report. The commission called for mandatory employer contributions at a minimum of 3% of payroll for every employee over age 25 and 1,000 hours of employment (the so-called minimum universal pension system or MUPS) to be administered in employer pension plans or through a clearinghouse managed by the Social Security Administration; enactment of a Public Employee Retirement Income Security Act for state and local government plans modeled on E ....

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