On June 24, 2014, IFS Executive Director Lisa Mensah joined thought leaders from AARP, Putnam Investments, Oxford Economics, and LPL Financial to announce the release of a major research initiative undertaken by Oxford Economics, a leading economic consultancy, and co-sponsored by the Aspen Institute Initiative on Financial Security. Entitled Another Penny Saved: The Economic Benefit of Higher US Household Saving, the study provides conclusive evidence of the vital role household saving plays in spurring job creation, boosting growth, reducing reliance on foreign capital, and preparing Americans for retirement.
Moderated by Rick Klein, Political Director for ABC News, the discussion covered key questions on household savings and national policy, including: Are households and the US economy currently under-saving? If so, by how much? Are tax incentives an effective way to encourage households to save more, or do they just divert savings from other vehicles? Do some incentives work better than others, and does the target group matter?
Lisa’s message to the audience and throughout her work: (Through strong savings programs) We can turn the dial for those who struggle with a lower wage. More should be done, it’s urgent, and we should include everybody.