The U.S. ranks 18th among 34 member nations of the Organisation for Economic Co-operation and Development for income of retirees age 75 and older, Professor Norman Stein noted in an Oct. 7 letter to the editor of the , (subscription required).
Stein disputed claims made in an op-ed article the newspaper published on Sept. 30, which labeled the income crisis for U.S. retirees as “imaginary.”
The authors’ contention “is largely based on a single cherry-picked number from a 365-page report,” Stein wrote, adding that a recent Gallup poll found post-retirement income is a major worry for Americans aged 30 to 64.
His letter was cited in an article in .
Stein is an expert on pension and tax law who has frequently testified before Congress and federal agencies that regulate the financial industry.