A recent Harvard Business Review article indicates that over the past four decades, changes prompted by corporate America have placed workers and the broader American society at risk. Here’s what authors Teresa Ghilarducci and Tony James mean. The shift from defined benefit pension plans to employee-directed contribution 401K plans represents a major driver of America’s impending retirement crisis. Beginning during the 1980s, this shift in retirement benefits helped companies reduce their retirement liabilities and better meet their quarterly financial targets.
Anirban Basu, Chariman Chief Executive Officer of Sage Policy Group (SPG), is one of the Mid-Atlantic region's leading economic consultants. Prior to founding SPG he was Chairman and CEO of Optimal Solutions Group, a company he co-founded and which continues to operate. Anirban has also served as Director of Applied Economics and Senior Economist for RESI, where he used his extensive knowledge of the Mid-Atlantic region to support numerous clients in their strategic decision-making processes. Clients have included the Maryland Department of Transportation, St. Paul Companies, Baltimore Symphony Orchestra Players Committee and the Martin O'Malley mayoral campaign.