Deck 7: Bonfire of the S and Ls: How Did It Happen Steven Waldman Andrich Thomas

Question 1

For the middle second) generation of Paugh's, the three-legged stool of retirement income consists of which of the following?

A) employee pensions, personal savings, and Social Security
B) 401k) plans, personal savings, and Social Security
C) 401k) plans, personal savings, and health insurance
D) None of the above

Answer 1

B

Question 2

How confident was Pamela Cody, Junior Paugh's granddaughter, that the government and her employer would help support her in her retirement as they did her grandfather?

A) very confident
B) somewhat confident
C) not at all confident

Answer 2

C

Question 3

How does the shift from employee pensions to 401k) plans characterize the shift from the New Deal Society to the Ownership Society?

Answer 3

not answered

Question 4

Russakoff follows three generations of the Paugh family to illustrate the changing face of retirement over the last 70 years. Describe the three-legged stool that assured retirement security for the elder Paugh. How has the three-legged stool changed for the Paugh children and grandchildren?

Question 5

All three generations of the Paugh family can count on lifetime health insurance.

Question 6

Who bears the majority of the risk in 401k) plans?

A) employers
B) employees
C) brokerage firms
D) the federal government

Question 7

The middle generation of the Paugh family-the boomers-expect to enjoy the same level of retirement security as their father, Junior Paugh.

Question 8

Compare and contrast the major policies and goals that characterize the New Deal Society with those of the Ownership Society. In your opinion, which type of society crates a more secure retirement for individuals? Explain, using examples from the reading.

Question 9

For Junior Paugh, the grandfather, the three-legged stool of retirement income consists of which of the following?

A) employee pensions, health insurance, and Social Security
B) 401k) plans, Medicare, and Social Security
C) employee pensions, personal savings, and Social Security
D) none of the above

Question 10

For the third generation of Paugh's, 401k) plans have replaced savings and pensions in the three- legged stool of retirement.

Question 11

For the Paugh grandchildren, the three-legged stool of retirement income consists of which of the following?

A) employee pensions, 401k) plans, and Social Security
B) personal savings, employee pensions, and Social Security
C) Social Security and 401k) plans
D) none of the above

Question 12

Employers that offer retiree health benefits now pay as much or more for retiree health insurance as for pensions.

Question 13

Under 401k) plans, employers bear the risk and responsibility of investing enough for retirement.