| The Magnificent 7 may be doing their best to prop up retirement funds, but Americans’ nest eggs are getting clobbered by Bidenflation. CTUP senior fellow EJ Antoni reports:
Across all plans, the net losses are an eye-watering $1 trillion. But it gets worse. The 40-year high in inflation, brought on by government spending, borrowing, and printing too much money, has further eroded the value of 401(k) plans by $16,200 on average, for a real (inflation-adjusted) loss of around $33,200, or 24.8%. While the study estimates that pension plans have fared better than many IRAs, their balances have also fallen in real terms. Through the third quarter of this year, pension plans have lost $3.3 trillion, or 12.1%, of real value during the Biden administration. Read his article in the NY Post:
And the full study:
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