Lessons From Down Under: What Australia’s Retirement System Really Teaches Us About Trump Accounts and Social Security

<div class="header alignfull header--article header--min-height-half has-background has-blue-diagonal-gradient-background"> <div class="header__layout"> <div class="header__content"> <div class="header__metadata"><div class="header__metas"><div class="header__meta header__meta--taxonomy header__meta--tax-category"> Blog Posts</div></div></div> <h1 class="header__title has-h3-variant">Archives</h1> <div class="header__metadata"><div class="header__metas"><div class="favorite-block"> <button class="favorite" data-id="270661" data-state="" title="Favorites are not currently available" disabled><span class="favorite__on">Unfavorite</span><span class="favorite__off">Favorite</span><svg class="svg svg--svg-assets-svg-icon-bookmark" role="img" height="15" width="11"><use xlink:href="#svg-assets-svg-icon-bookmark" /></svg></button></div> <div class="header__meta header__meta--date"> July 21, 2026</div> <div class="header__meta header__meta--taxonomy header__meta--tax-program_tax"> <a href="https://www.aspeninstitute.org/programs/financial-security-program/">Financial Security Program</a></div></div></div> </div> </div> <figure class="header__media" role="presentation"> </figure> </div> <div class="wp-block-group alignfull is-style-default has-white-background-color has-background is-layout-flow wp-block-group-is-layout-flow" style="margin-top:var(--wp--preset--spacing--small);margin-bottom:var(--wp--preset--spacing--small);padding-top:var(--wp--preset--spacing--small);padding-right:var(--wp--preset--spacing--medium);padding-bottom:var(--wp--preset--spacing--xsmall)"> <div class="wp-block-columns alignwide wp-block-columns--gap-small is-layout-flex wp-container-core-columns-is-layout-da3634f5 wp-block-columns-is-layout-flex" style="margin-top:0;margin-bottom:0;padding-top:0;padding-right:var(--wp--preset--spacing--medium);padding-bottom:0;padding-left:var(--wp--preset--spacing--medium)"> <div class="wp-block-column is-layout-flow wp-block-column-is-layout-flow" style="border-top-color:var(--wp--preset--color--tonal-black);border-top-width:8px;border-bottom-style:none;border-bottom-width:0px;padding-top:var(--wp--preset--spacing--medium);flex-basis:25%"> <div style="margin-bottom:var(--wp--preset--spacing--medium)" class="post-people"> <div class="post-people__person"> <figure class="post-people__headshot"> <img loading="lazy" decoding="async" width="300" height="300" src="https://www.aspeninstitute.org/wp-content/uploads/2025/04/BoasKC-300x300.jpg" class="attachment-mobile size-mobile" alt="" srcset="https://www.aspeninstitute.org/wp-content/uploads/2025/04/BoasKC-300x300.jpg 300w, https://www.aspeninstitute.org/wp-content/uploads/2025/04/BoasKC-800x800.jpg 800w, https://www.aspeninstitute.org/wp-content/uploads/2025/04/BoasKC-150x150.jpg 150w, https://www.aspeninstitute.org/wp-content/uploads/2025/04/BoasKC-768x768.jpg 768w, https://www.aspeninstitute.org/wp-content/uploads/2025/04/BoasKC-675x675.jpg 675w, https://www.aspeninstitute.org/wp-content/uploads/2025/04/BoasKC-676x676.jpg 676w, https://www.aspeninstitute.org/wp-content/uploads/2025/04/BoasKC.jpg 1000w" sizes="auto, (max-width: 300px) 100vw, 300px" style="object-position: 50% 50%" /> </figure> <div class="post-people__info"> <h3 class="post-people__name"> <a href="https://www.aspeninstitute.org/people/kc-boas/" class="post-people__link"> KC Boas </a> </h3> <p class="post-people__position"> Retirement Initiative Lead </p> </div> </div> <div class="post-people__person"> <figure class="post-people__headshot"> <img loading="lazy" decoding="async" width="300" height="300" src="https://www.aspeninstitute.org/wp-content/uploads/2018/10/Andres-Karen-2-300x300.jpg" class="attachment-mobile size-mobile" alt="" srcset="https://www.aspeninstitute.org/wp-content/uploads/2018/10/Andres-Karen-2-300x300.jpg 300w, https://www.aspeninstitute.org/wp-content/uploads/2018/10/Andres-Karen-2-800x797.jpg 800w, https://www.aspeninstitute.org/wp-content/uploads/2018/10/Andres-Karen-2-1500x1495.jpg 1500w, https://www.aspeninstitute.org/wp-content/uploads/2018/10/Andres-Karen-2-150x150.jpg 150w, https://www.aspeninstitute.org/wp-content/uploads/2018/10/Andres-Karen-2-768x765.jpg 768w, https://www.aspeninstitute.org/wp-content/uploads/2018/10/Andres-Karen-2-1536x1530.jpg 1536w, https://www.aspeninstitute.org/wp-content/uploads/2018/10/Andres-Karen-2-1094x1090.jpg 1094w, https://www.aspeninstitute.org/wp-content/uploads/2018/10/Andres-Karen-2-1204x1200.jpg 1204w, https://www.aspeninstitute.org/wp-content/uploads/2018/10/Andres-Karen-2-677x675.jpg 677w, https://www.aspeninstitute.org/wp-content/uploads/2018/10/Andres-Karen-2-678x676.jpg 678w, https://www.aspeninstitute.org/wp-content/uploads/2018/10/Andres-Karen-2.jpg 1920w" sizes="auto, (max-width: 300px) 100vw, 300px" style="object-position: 50% 35%" /> </figure> <div class="post-people__info"> <h3 class="post-people__name"> <a href="https://www.aspeninstitute.org/people/karen-andres/" class="post-people__link"> Karen Biddle Andres </a> </h3> <p class="post-people__position"> Director, Lifelong Saving and Investing </p> </div> </div> <div class="post-people__person"> <figure class="post-people__headshot"> <img loading="lazy" decoding="async" width="300" height="300" src="https://www.aspeninstitute.org/wp-content/uploads/2022/06/Ewas-Jason-scaled-e1753282141591-300x300.jpg" class="attachment-mobile size-mobile" alt="" srcset="https://www.aspeninstitute.org/wp-content/uploads/2022/06/Ewas-Jason-scaled-e1753282141591-300x300.jpg 300w, https://www.aspeninstitute.org/wp-content/uploads/2022/06/Ewas-Jason-scaled-e1753282141591-800x800.jpg 800w, https://www.aspeninstitute.org/wp-content/uploads/2022/06/Ewas-Jason-scaled-e1753282141591-1500x1500.jpg 1500w, https://www.aspeninstitute.org/wp-content/uploads/2022/06/Ewas-Jason-scaled-e1753282141591-150x150.jpg 150w, https://www.aspeninstitute.org/wp-content/uploads/2022/06/Ewas-Jason-scaled-e1753282141591-768x768.jpg 768w, https://www.aspeninstitute.org/wp-content/uploads/2022/06/Ewas-Jason-scaled-e1753282141591-1536x1536.jpg 1536w, https://www.aspeninstitute.org/wp-content/uploads/2022/06/Ewas-Jason-scaled-e1753282141591-1090x1090.jpg 1090w, https://www.aspeninstitute.org/wp-content/uploads/2022/06/Ewas-Jason-scaled-e1753282141591-1200x1200.jpg 1200w, https://www.aspeninstitute.org/wp-content/uploads/2022/06/Ewas-Jason-scaled-e1753282141591-675x675.jpg 675w, https://www.aspeninstitute.org/wp-content/uploads/2022/06/Ewas-Jason-scaled-e1753282141591-676x676.jpg 676w, https://www.aspeninstitute.org/wp-content/uploads/2022/06/Ewas-Jason-scaled-e1753282141591.jpg 2048w" sizes="auto, (max-width: 300px) 100vw, 300px" style="object-position: 53% 21%" /> </figure> <div class="post-people__info"> <h3 class="post-people__name"> <a href="https://www.aspeninstitute.org/people/jason-ewas/" class="post-people__link"> Jason Ewas </a> </h3> <p class="post-people__position"> Associate Director, Lifelong Saving and Investing </p> </div> </div> </div> </div> <div class="wp-block-column is-layout-flow wp-container-core-column-is-layout-bb2b95db wp-block-column-is-layout-flow" style="border-top-color:#1b162130;border-top-width:2px;border-right-style:none;border-right-width:0px;border-bottom-style:none;border-bottom-width:0px;border-left-style:none;border-left-width:0px;padding-top:var(--wp--preset--spacing--medium);padding-bottom:0;padding-left:var(--wp--preset--spacing--small);flex-basis:66.66%"> <div class="wp-block-group is-layout-constrained wp-block-group-is-layout-constrained" style="margin-top:0;margin-bottom:0;padding-top:0;padding-bottom:var(--wp--preset--spacing--small)"> <p class="wp-block-paragraph">Even a casual follower of retirement policy has probably noticed the recent wave of &#8220;Aussie fever.&#8221;</p> <p class="wp-block-paragraph">In recent months, Australia has become the go-to example for those arguing that America should rethink retirement. Many have pointed to Australia&#8217;s retirement system—particularly its mandatory workplace savings component—as an example of the kind of broad-based asset ownership and long-term investing they hope to encourage in the United States.</p> <p class="wp-block-paragraph">The implication is often the same: Australia built a world-class retirement system around investment accounts, so perhaps the United States could eventually move beyond Social Security as the foundation for retirement. As momentum builds around proposals like <a href="https://www.aspeninstitute.org/programs/financial-security-program/our-priorities/wealth-and-ownership/saving-and-investing/how-to-make-trump-530a-accounts-work-for-everyone/">Trump (530A) Accounts</a>, some have even suggested that childhood investment accounts could one day reduce—or even eliminate—the need for Social Security altogether.</p> <p class="wp-block-paragraph">But that comparison rests on an incomplete picture of how Australia’s retirement system actually works. Here’s what we’ve learned—and what we think Americans, our policymakers, and business leaders should keep top of mind.</p> </div> </div> </div> <hr class="wp-block-separator aligncenter has-alpha-channel-opacity is-style-dots"/> <div class="wp-block-group is-layout-constrained wp-block-group-is-layout-constrained"> <h2 id="h-australia-still-has-its-social-insurance-program-for-retirement" class="wp-block-heading has-h3-variant">Australia Still Has Its Social Insurance Program for Retirement</h2> <p class="wp-block-paragraph">Australia is frequently described as having a retirement system built on &#8220;superannuation&#8221;—its mandatory workplace retirement savings program. But superannuation is only one piece of the puzzle.</p> <p class="wp-block-paragraph">Australia, like most other developed countries, has a multi-pillar retirement system. (Notably, per the <a href="https://openknowledge.worldbank.org/entities/publication/0a7f6b2c-7cfc-5989-a3dc-2c6d7e657c63">World Bank</a>, no country in the world has fully eliminated its old-age pension even when it has instituted a national defined contribution policy.)&nbsp;</p> <p class="wp-block-paragraph">The first component of Australia’s retirement system is the Age Pension, a publicly financed benefit that provides an income floor for older Australians who meet age and means-testing requirements. While it differs from Social Security in the U.S.—the Age Pension is means-tested and funded through general government revenue rather than dedicated payroll taxes—it serves a similar purpose: ensuring that older Australians have a basic level of retirement income. For those who qualify, the benefit is paid for life and is regularly adjusted to help keep pace with inflation and changes in wages, giving retirees a stable foundation even if their personal savings are modest.</p> <blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> <blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> <p class="has-h4-variant wp-block-paragraph"><mark style="background-color:rgba(0, 0, 0, 0);color:var( --wdg-color-accent-tertiary )" class="has-inline-color">&#8220;Australia did not replace its public insurance program for retirement with investment accounts. It built mandatory retirement savings alongside a government-backed retirement income program.&#8221;</mark></p> </blockquote> </blockquote> <p class="wp-block-paragraph">The second component is superannuation, which requires employers to contribute a percentage of workers&#8217; wages (currently 12 percent) into individual retirement accounts over the course of their careers. And while policymakers often describe Australia&#8217;s retirement income system as having three pillars—the Age Pension, compulsory superannuation contributions from employers, and additional voluntary personal contributions—in practice, the second and third pillars both flow into the same superannuation accounts.</p> <p class="wp-block-paragraph">In other words, Australia did not replace its public insurance program for retirement with investment accounts. It built mandatory retirement savings alongside a government-backed retirement income program.&nbsp;</p> <h2 id="h-in-australia-contributions-are-mandatory-continuous-and-employer-sponsored" class="wp-block-heading has-h3-variant">In Australia, Contributions Are Mandatory, Continuous … and Employer-Sponsored&nbsp;</h2> <p class="wp-block-paragraph">There&#8217;s another important difference that often gets overlooked. Australia&#8217;s superannuation balances didn&#8217;t appear overnight. They were built through hefty mandatory employer contributions made every payday over the course of Australians’ entire working lives. That&#8217;s fundamentally different from a one-time contribution made at birth—à la Trump Accounts—even if it has decades to grow.</p> <p class="wp-block-paragraph">Time in the market matters. But so do the size, consistency, and frequency of contributions. Thus, comparing Australia&#8217;s mature superannuation system to a childhood investment account is comparing two very different policies with very different objectives.</p> <h2 id="h-whether-in-australia-or-america-assets-are-not-insurance" class="wp-block-heading has-h3-variant">Whether in Australia or America, Assets Are Not Insurance</h2> <p class="wp-block-paragraph">The broader debate also risks conflating two fundamentally different functions within a retirement system.</p> <p class="wp-block-paragraph">Investment accounts build assets. Social Security provides insurance. Those may sound similar, but economically they solve different problems for the household.</p> <blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> <p class="has-h4-variant wp-block-paragraph"><mark style="background-color:rgba(0, 0, 0, 0);color:var( --wdg-color-accent-tertiary )" class="has-inline-color">&#8220;One program helps people build wealth. The other ensures that wealth—or the lack of it—doesn&#8217;t determine whether someone can afford to grow old. Those are complementary goals, not competing ones.&#8221;</mark></p> </blockquote> <p class="wp-block-paragraph">A traditional investment account is built to help someone accumulate wealth over time. It cannot guarantee that they won&#8217;t outlive their savings. It cannot promise inflation-adjusted income for life. It cannot eliminate longevity risk or market risk at the moment someone retires. (True, annuities and other lifetime income solutions—including those in 401(k) plans—can convert a balance into an income stream; but the amount of income one receives is ultimately based on how big the account balance is.)&nbsp;</p> <p class="wp-block-paragraph">Social Security, by contrast, exists precisely because individuals cannot fully insure themselves against those risks on their own. Fundamentally, capitalist societies like the U.S., Australia, the U.K., and beyond have decided it is unacceptable for people who have earned less during their careers to age in poverty. Social Security is about protection, not prosperity.</p> <p class="wp-block-paragraph">One program helps people build wealth. The other ensures that wealth—or the lack of it—doesn&#8217;t determine whether someone can afford to grow old. Those are complementary goals, not competing ones.</p> <h2 id="h-universality-doesn-t-mean-uniformity" class="wp-block-heading has-h3-variant">Universality Doesn&#8217;t Mean Uniformity</h2> <p class="wp-block-paragraph">One of the most promising ideas surrounding Trump Accounts is the possibility of automatic enrollment. Behavioral economics has shown us repeatedly that defaults matter.&nbsp; Auto-enrollment dramatically increases participation, especially among lower-income families who are least likely to opt-in to financial programs on their own.</p> <p class="wp-block-paragraph">That&#8217;s a feature worth celebrating. But universal participation does not produce universal outcomes. Children will still experience different investment returns, receive different levels of family support, earn different wages throughout adulthood, and face different life circumstances—leading some to draw down funds well before they reach retirement age, which is part of the design of Trump Accounts and to be expected, if not encouraged.</p> <p class="wp-block-paragraph">By retirement, some accounts will be substantial. Others won&#8217;t. That&#8217;s precisely why a universal retirement system still needs a universal source of retirement income (as Australia reminds us). Asset-building programs create opportunity, but they don&#8217;t eliminate the need for a common foundation beneath everyone. And here in America, that means that the launch of Trump Accounts makes a compelling case for recommitting ourselves to—and strengthening—Social Security, even if the politics are hard.&nbsp;</p> <h2 id="h-protecting-households-from-a-false-choice" class="wp-block-heading has-h3-variant">Protecting Households From a False Choice</h2> <p class="wp-block-paragraph">The clearest evidence that Trump Accounts cannot substitute for Social Security, however, isn&#8217;t found in Australia. It&#8217;s found in the experience of millions of American households.</p> <blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> <p class="has-h4-variant wp-block-paragraph"><mark style="background-color:rgba(0, 0, 0, 0);color:var( --wdg-color-accent-tertiary )" class="has-inline-color">&#8220;That&#8217;s why the strongest retirement systems don&#8217;t force a choice between income security and asset building. They recognize that these are different objectives requiring different tools.&#8221;</mark></p> </blockquote> <p class="wp-block-paragraph">Every month, Social Security delivers a guaranteed, inflation-protected paycheck for life. The average retired worker receives roughly $24,000 a year—nowhere near enough to fund a lavish retirement, but enough to ensure that a check arrives every month no matter what happens in financial markets or with inflation, how long someone lives, or whether they&#8217;ve exhausted their savings. No investment account can make that promise.</p> <p class="wp-block-paragraph">But Social Security wasn&#8217;t designed to do everything. It is intentionally paid out over time—a steady stream of income meant to cover ongoing, essential living expenses. It isn&#8217;t designed to replace a roof after a storm, buy a wheelchair-accessible vehicle, help a grandchild through college, or pay for a major long-term care expense. Those are the kinds of &#8220;chunkier&#8221; financial needs that require accumulated assets.</p> <p class="wp-block-paragraph">That&#8217;s why the strongest retirement systems don&#8217;t force a choice between income security and asset building. They recognize that these are different objectives requiring different tools.</p> <p class="wp-block-paragraph">Australia understood this. Its retirement system combines a public income floor with mandatory retirement savings and voluntary saving. The United States has long embraced a related philosophy through Social Security, voluntary employer-sponsored retirement plans, and personal savings. (Though here in America, we could do with a national approach to private retirement savings, given that <a href="https://www.aarp.org/pri/topics/work-finances-retirement/financial-security-retirement/national-coverage/">56 million</a> private sector American workers still lack access to workplace retirement savings.)</p> <p class="wp-block-paragraph">Trump Accounts could become another layer in that system. If they help more families build wealth from birth, invest in themselves and their families, and enter retirement with greater financial resilience, that would be a meaningful achievement.</p> <p class="wp-block-paragraph">But don’t mistake them for a replacement for Social Security. The real lesson from Australia isn&#8217;t that public retirement income becomes unnecessary once people have investment accounts. It&#8217;s that retirement security is strongest when guaranteed lifetime income and accumulated assets work together—not in competition, but in partnership.</p> </div> <div class="wp-block-group is-layout-constrained wp-block-group-is-layout-constrained"> <div class="card-slider alignfull has-grid-spacing-small"><div class="card-slider__nav"> <h2 id="related" class="wp-block-heading has-h4-variant">Related</h2> <button type="button" class="card-slider__go card-slider__go--back" aria-label="Previous"> <svg class="svg svg--svg-assets-svg-icon-arrow-left" role="img" focusable="false" height="0" width="0"><use xlink:href="#svg-assets-svg-icon-arrow-left"/></svg> </button> <button type="button" class="card-slider__go card-slider__go--forward" aria-label="Next"> <svg class="svg svg--svg-assets-svg-icon-arrow-right" role="img" focusable="false" height="0" width="0"><use xlink:href="#svg-assets-svg-icon-arrow-right"/></svg> </button> </div> <div class="card-slider__content"><div class="dyn-card"> <div class="dyn-card__wrap"> <div class="dyn-card__media"> <figure class="dyn-card__image"> <a class="dyn-card__image-link" href="https://www.aspeninstitute.org/publications/the-future-of-advice-person-centered-guidance/" tabindex="-1"> <img loading="lazy" decoding="async" width="1500" height="1001" src="https://www.aspeninstitute.org/wp-content/uploads/2026/05/294A4958-1-1500x1001.jpg" class="attachment-large size-large" alt="Event attendees sit at tables speaking. In focus behind them, is a flipchart with notes about retirement savings advice." style="object-position: 50% 50%" /> </a> </figure> <div class="dyn-card__label"> <span class="has-meta-variant">Publications</span> </div> </div> <div class="dyn-card__content"> <h2 class="dyn-card__title has-h5-variant"><a href="https://www.aspeninstitute.org/publications/the-future-of-advice-person-centered-guidance/">The Future of Advice: Going from Fragmented Help to Person-Centered Guidance</a></h2><div class="dyn-card__excerpt">Households need financial and retirement advice that is affordable and accessible. What will it take to achieve that goal?</div><p class="dyn-card__meta dyn-card__date"><button class="favorite" data-id="207427" data-state="" title="Favorites are not currently available" disabled><span class="favorite__on">Unfavorite</span><span class="favorite__off">Favorite</span><svg class="svg svg--svg-assets-svg-icon-bookmark" role="img" focusable="false" height="15" width="11"><use xlink:href="#svg-assets-svg-icon-bookmark"/></svg></button><time>May 12, 2026</time></p> </div> </div> </div> <div class="dyn-card"> <div class="dyn-card__wrap"> <div class="dyn-card__media"> <figure class="dyn-card__image"> <a class="dyn-card__image-link" href="https://www.aspeninstitute.org/blog-posts/trump-iras-retirement-executive-order/" tabindex="-1"> <img loading="lazy" decoding="async" width="1500" height="1000" src="https://www.aspeninstitute.org/wp-content/uploads/2026/04/Aspen-Leadership-Forum-Retirement-Savings-2026_527_web-1500x1000.png" class="attachment-large size-large" alt="A wideshot of a room with several tables and dozens of people, watching a presentation at the front of the room." style="object-position: 50% 50%" /> </a> </figure> <div class="dyn-card__label"> <span class="has-meta-variant">Blog Posts</span> </div> </div> <div class="dyn-card__content"> <h2 class="dyn-card__title has-h5-variant"><a href="https://www.aspeninstitute.org/blog-posts/trump-iras-retirement-executive-order/">Trump IRAs Are Coming. Let’s Make Them Work for Those Who Need Them Most.</a></h2><div class="dyn-card__excerpt">President Trump has just signed an executive order designed to expand retirement savings access. Here&#8217;s what this news means for low-income savers.</div><p class="dyn-card__meta dyn-card__date"><button class="favorite" data-id="200021" data-state="" title="Favorites are not currently available" disabled><span class="favorite__on">Unfavorite</span><span class="favorite__off">Favorite</span><svg class="svg svg--svg-assets-svg-icon-bookmark" role="img" focusable="false" height="15" width="11"><use xlink:href="#svg-assets-svg-icon-bookmark"/></svg></button><time>May 1, 2026</time></p><ul class="dyn-card__meta dyn-card__people"><li class="dyn-card__person"><a href="https://www.aspeninstitute.org/people/karen-andres/">Karen Biddle Andres</a></li><li class="dyn-card__person"><a href="https://www.aspeninstitute.org/people/kc-boas/">KC Boas</a></li></ul> </div> </div> </div> <div class="dyn-card"> <div class="dyn-card__wrap"> <div class="dyn-card__media"> <figure class="dyn-card__image"> <a class="dyn-card__image-link" href="https://www.aspeninstitute.org/blog-posts/lab-notes-2025-workers-wealth-lab/" tabindex="-1"> <img loading="lazy" decoding="async" width="1500" height="645" src="https://www.aspeninstitute.org/wp-content/uploads/2026/02/Aspen-Institute-Workers-Wealth-Lab-Nov2025_160-e1771612061849-1500x645.png" class="attachment-large size-large" alt="Lab Notes: 2025 Workers’ Wealth Lab" style="object-position: 63% 28%" /> </a> </figure> <div class="dyn-card__label"> <span class="has-meta-variant">Blog Posts</span> </div> </div> <div class="dyn-card__content"> <h2 class="dyn-card__title has-h5-variant"><a href="https://www.aspeninstitute.org/blog-posts/lab-notes-2025-workers-wealth-lab/">Lab Notes: 2025 Workers’ Wealth Lab</a></h2><div class="dyn-card__excerpt">Leveraging a first-of-its-kind database, the Workers&#8217; Wealth Lab uses retirement plan data to identify the tools and design features that can improve our retirement savings system. Read the report from the 2025 Lab.</div><p class="dyn-card__meta dyn-card__date"><button class="favorite" data-id="167260" data-state="" title="Favorites are not currently available" disabled><span class="favorite__on">Unfavorite</span><span class="favorite__off">Favorite</span><svg class="svg svg--svg-assets-svg-icon-bookmark" role="img" focusable="false" height="15" width="11"><use xlink:href="#svg-assets-svg-icon-bookmark"/></svg></button><time>February 20, 2026</time></p><ul class="dyn-card__meta dyn-card__people"><li class="dyn-card__person"><a href="https://www.aspeninstitute.org/people/kc-boas/">KC Boas</a></li></ul> </div> </div> </div> <div class="dyn-card"> <div class="dyn-card__wrap"> <div class="dyn-card__media"> <figure class="dyn-card__image"> <a class="dyn-card__image-link" href="https://www.aspeninstitute.org/blog-posts/guardrails-without-roadblocks-how-to-close-the-consumer-choice-gap-in-retirement-planning/" tabindex="-1"> <img loading="lazy" decoding="async" width="1500" height="600" src="https://www.aspeninstitute.org/wp-content/uploads/2025/11/Aspen-Institute-Workers-Wealth-Lab-Nov2024_247-2-1500x600.jpg" class="attachment-large size-large" alt="Guardrails Without Roadblocks: How to Close the Consumer Choice Gap in Retirement Planning" style="object-position: 50% 50%" /> </a> </figure> <div class="dyn-card__label"> <span class="has-meta-variant">Blog Posts</span> </div> </div> <div class="dyn-card__content"> <h2 class="dyn-card__title has-h5-variant"><a href="https://www.aspeninstitute.org/blog-posts/guardrails-without-roadblocks-how-to-close-the-consumer-choice-gap-in-retirement-planning/">Guardrails Without Roadblocks: How to Close the Consumer Choice Gap in Retirement Planning</a></h2><p class="dyn-card__meta dyn-card__date"><button class="favorite" data-id="158754" data-state="" title="Favorites are not currently available" disabled><span class="favorite__on">Unfavorite</span><span class="favorite__off">Favorite</span><svg class="svg svg--svg-assets-svg-icon-bookmark" role="img" focusable="false" height="15" width="11"><use xlink:href="#svg-assets-svg-icon-bookmark"/></svg></button><time>November 10, 2025</time></p> </div> </div> </div> <div class="dyn-card"> <div class="dyn-card__wrap"> <div class="dyn-card__media"> <figure class="dyn-card__image"> <a class="dyn-card__image-link" href="https://www.aspeninstitute.org/publications/the-future-of-retirement-savings-aspen-leadership-forum-on-retirement-savings-2025/" tabindex="-1"> <img loading="lazy" decoding="async" width="1500" height="1000" src="https://www.aspeninstitute.org/wp-content/uploads/2025/09/Aspen_2190-1500x1000.jpg" class="attachment-large size-large" alt="What’s the Future of Retirement Savings? We Get to Choose" style="object-position: 50% 50%" /> </a> </figure> <div class="dyn-card__label"> <span class="has-meta-variant">Publications</span> </div> </div> <div class="dyn-card__content"> <h2 class="dyn-card__title has-h5-variant"><a href="https://www.aspeninstitute.org/publications/the-future-of-retirement-savings-aspen-leadership-forum-on-retirement-savings-2025/">What’s the Future of Retirement Savings? We Get to Choose</a></h2><div class="dyn-card__excerpt">Retirement is the ultimate financial report card—for individuals and for America. Learn how leaders are working to make the retirement savings system work for everyone.</div><p class="dyn-card__meta dyn-card__date"><button class="favorite" data-id="153203" data-state="" title="Favorites are not currently available" disabled><span class="favorite__on">Unfavorite</span><span class="favorite__off">Favorite</span><svg class="svg svg--svg-assets-svg-icon-bookmark" role="img" focusable="false" height="15" width="11"><use xlink:href="#svg-assets-svg-icon-bookmark"/></svg></button><time>September 19, 2025</time></p><ul class="dyn-card__meta dyn-card__people"><li class="dyn-card__person"><a href="https://www.aspeninstitute.org/people/karen-andres/">Karen Biddle Andres</a></li><li class="dyn-card__person"><a href="https://www.aspeninstitute.org/people/kc-boas/">KC Boas</a></li><li class="dyn-card__person"><a href="https://www.aspeninstitute.org/people/mack-wallace/">Mack Wallace</a></li></ul> </div> </div> </div> <div class="dyn-card"> <div class="dyn-card__wrap"> <div class="dyn-card__media"> <figure class="dyn-card__image"> <a class="dyn-card__image-link" href="https://www.aspeninstitute.org/blog-posts/auto-enrollment-trump-accounts/" tabindex="-1"> <img loading="lazy" decoding="async" width="1500" height="827" src="https://www.aspeninstitute.org/wp-content/uploads/2025/08/Aspen-Institute-FSP-231205-Event_344-scaled-e1754488957293-1500x827.jpg" class="attachment-large size-large" alt="A person writing notes on a piece of paper" style="object-position: 50% 50%" /> </a> </figure> <div class="dyn-card__label"> <span class="has-meta-variant">Blog Posts</span> </div> </div> <div class="dyn-card__content"> <h2 class="dyn-card__title has-h5-variant"><a href="https://www.aspeninstitute.org/blog-posts/auto-enrollment-trump-accounts/">How Auto-Enrollment Could Help Trump Accounts Work For Everyone</a></h2><p class="dyn-card__meta dyn-card__date"><button class="favorite" data-id="147850" data-state="" title="Favorites are not currently available" disabled><span class="favorite__on">Unfavorite</span><span class="favorite__off">Favorite</span><svg class="svg svg--svg-assets-svg-icon-bookmark" role="img" focusable="false" height="15" width="11"><use xlink:href="#svg-assets-svg-icon-bookmark"/></svg></button><time>August 6, 2025</time></p><ul class="dyn-card__meta dyn-card__people"><li class="dyn-card__person">John Scott</li></ul> </div> </div> </div> <div class="dyn-card"> <div class="dyn-card__wrap"> <div class="dyn-card__media"> <figure class="dyn-card__image"> <a class="dyn-card__image-link" href="https://www.aspeninstitute.org/blog-posts/americas-babies-are-now-retirement-investors-now-what/" tabindex="-1"> <img loading="lazy" decoding="async" width="1500" height="1000" src="https://www.aspeninstitute.org/wp-content/uploads/2025/08/Aspen-Institute-FSP-231205-Event_341-1500x1000.jpg" class="attachment-large size-large" alt="America’s Babies Are Now Retirement Investors—Now What?" style="object-position: 50% 50%" /> </a> </figure> <div class="dyn-card__label"> <span class="has-meta-variant">Blog Posts</span> </div> </div> <div class="dyn-card__content"> <h2 class="dyn-card__title has-h5-variant"><a href="https://www.aspeninstitute.org/blog-posts/americas-babies-are-now-retirement-investors-now-what/">America’s Babies Are Now Retirement Investors—Now What?</a></h2><div class="dyn-card__excerpt">Trump Accounts could offer an 18-year head start on saving for retirement. How do we ensure that they work for everyone?</div><p class="dyn-card__meta dyn-card__date"><button class="favorite" data-id="145652" data-state="" title="Favorites are not currently available" disabled><span class="favorite__on">Unfavorite</span><span class="favorite__off">Favorite</span><svg class="svg svg--svg-assets-svg-icon-bookmark" role="img" focusable="false" height="15" width="11"><use xlink:href="#svg-assets-svg-icon-bookmark"/></svg></button><time>July 28, 2025</time></p><ul class="dyn-card__meta dyn-card__people"><li class="dyn-card__person"><a href="https://www.aspeninstitute.org/people/karen-andres/">Karen Biddle Andres</a></li><li class="dyn-card__person"><a href="https://www.aspeninstitute.org/people/kc-boas/">KC Boas</a></li></ul> </div> </div> </div> <div class="dyn-card"> <div class="dyn-card__wrap"> <div class="dyn-card__media"> <figure class="dyn-card__image"> <a class="dyn-card__image-link" href="https://www.aspeninstitute.org/blog-posts/why-kc-boas-is-honored-to-join-aspen-fsp/" tabindex="-1"> <img loading="lazy" decoding="async" width="1500" height="1000" src="https://www.aspeninstitute.org/wp-content/uploads/2025/04/Aspen_1516-1500x1000.jpg" class="attachment-large size-large" alt="three people sit at a table in discussion" style="object-position: 48% 66%" /> </a> </figure> <div class="dyn-card__label"> <span class="has-meta-variant">Blog Posts</span> </div> </div> <div class="dyn-card__content"> <h2 class="dyn-card__title has-h5-variant"><a href="https://www.aspeninstitute.org/blog-posts/why-kc-boas-is-honored-to-join-aspen-fsp/">Long-Time Listener, First-Time Caller: Why KC Boas Is Honored to Join Aspen FSP</a></h2><div class="dyn-card__excerpt">KC Boas will join Aspen FSP as the Retirement Savings Initiative Lead.</div><p class="dyn-card__meta dyn-card__date"><button class="favorite" data-id="76168" data-state="" title="Favorites are not currently available" disabled><span class="favorite__on">Unfavorite</span><span class="favorite__off">Favorite</span><svg class="svg svg--svg-assets-svg-icon-bookmark" role="img" focusable="false" height="15" width="11"><use xlink:href="#svg-assets-svg-icon-bookmark"/></svg></button><time>April 21, 2025</time></p><ul class="dyn-card__meta dyn-card__people"><li class="dyn-card__person"><a href="https://www.aspeninstitute.org/people/kc-boas/">KC Boas</a></li></ul> </div> </div> </div> <div class="dyn-card"> <div class="dyn-card__wrap"> <div class="dyn-card__media"> <figure class="dyn-card__image"> <a class="dyn-card__image-link" href="https://www.aspeninstitute.org/publications/alfrs-2024-report/" tabindex="-1"> <img loading="lazy" decoding="async" width="1159" height="1500" src="https://www.aspeninstitute.org/wp-content/uploads/2025/05/ALFRS-Report-2024-graphic-1159x1500.jpg" class="attachment-large size-large" alt="8 Priorities (and 4 Big Questions) for Making America’s Retirement Savings System Work for Everybody" style="object-position: 50% 50%" /> </a> </figure> <div class="dyn-card__label"> <span class="has-meta-variant">Publications</span> </div> </div> <div class="dyn-card__content"> <h2 class="dyn-card__title has-h5-variant"><a href="https://www.aspeninstitute.org/publications/alfrs-2024-report/">8 Priorities (and 4 Big Questions) for Making America&#8217;s Retirement Savings System Work for Everybody</a></h2><div class="dyn-card__excerpt">Read the rapporteur report from the 8th annual Aspen Leadership Forum on Retirement Savings.</div><p class="dyn-card__meta dyn-card__date"><button class="favorite" data-id="76868" data-state="" title="Favorites are not currently available" disabled><span class="favorite__on">Unfavorite</span><span class="favorite__off">Favorite</span><svg class="svg svg--svg-assets-svg-icon-bookmark" role="img" focusable="false" height="15" width="11"><use xlink:href="#svg-assets-svg-icon-bookmark"/></svg></button><time>October 15, 2024</time></p> </div> </div> </div> <div class="dyn-card"> <div class="dyn-card__wrap"> <div class="dyn-card__media"> <figure class="dyn-card__image"> <a class="dyn-card__image-link" href="https://www.aspeninstitute.org/publications/the-savers-match-from-secure-2-0-the-opportunity-to-add-thousands-of-dollars-to-retirement-savings-accounts-for-people-with-low-income/" tabindex="-1"> <img loading="lazy" decoding="async" width="1500" height="844" src="https://www.aspeninstitute.org/wp-content/uploads/2017/04/Aspen-Blue-Gradient-2400px-1500x844.png" class="attachment-large size-large" alt="The Saver’s Match from SECURE 2.0: The Opportunity to Add Thousands of Dollars to Retirement Savings Accounts for People with Low Income" style="object-position: 52% 43%" /> </a> </figure> <div class="dyn-card__label"> <span class="has-meta-variant">Publications</span> </div> </div> <div class="dyn-card__content"> <h2 class="dyn-card__title has-h5-variant"><a href="https://www.aspeninstitute.org/publications/the-savers-match-from-secure-2-0-the-opportunity-to-add-thousands-of-dollars-to-retirement-savings-accounts-for-people-with-low-income/">The Saver’s Match from SECURE 2.0: The Opportunity to Add Thousands of Dollars to Retirement Savings Accounts for People with Low Income</a></h2><div class="dyn-card__excerpt">The Saver’s Match offers a way to add meaningful sums to retirement savings accounts of low income households.</div><p class="dyn-card__meta dyn-card__date"><button class="favorite" data-id="76784" data-state="" title="Favorites are not currently available" disabled><span class="favorite__on">Unfavorite</span><span class="favorite__off">Favorite</span><svg class="svg svg--svg-assets-svg-icon-bookmark" role="img" focusable="false" height="15" width="11"><use xlink:href="#svg-assets-svg-icon-bookmark"/></svg></button><time>October 2, 2024</time></p><ul class="dyn-card__meta dyn-card__people"><li class="dyn-card__person"><a href="https://www.aspeninstitute.org/people/kara-watkins/">Kara Woolley Watkins</a></li><li class="dyn-card__person"><a href="https://www.aspeninstitute.org/people/karen-andres/">Karen Biddle Andres</a></li></ul> </div> </div> </div> </div> </div> </div> </div> <p>The post <a href="https://www.aspeninstitute.org/blog-posts/australia-trump-accounts-social-security/">Lessons From Down Under: What Australia’s Retirement System Really Teaches Us About Trump Accounts and Social Security</a> appeared first on <a href="https://www.aspeninstitute.org">Aspen Institute</a>.</p>