Teresa Ghilarducci
Encyclopedia
Teresa Ghilarducci is the Irene and Bernard L. Schwartz
Chair of Economic Policy Analysis and director of the Schwartz Center for Economic Policy Analysis in the Department of Economics
at The New School
's New School for Social Research. She is a board member and research associate at the Economic Policy Institute
, and a member of the Academic Advisory Board of the National Institute on Retirement Security
. She is also a member of the American Economic Association
,
the Labor and Employment Relations Association
and the National Academy of Social Insurance. She won an Association of American Publishers
award for her book Labor's Capital: The Economics and Politics of Employer Pensions in 1992.
in Economics from University of California, Berkeley
in 1978. She graduated from there in 1984 with a Ph.D.
in Economics.
She was hired as an Assistant Professor of Economics at the University of Notre Dame
in 1983; she was promoted to Associate Professor of Economics in 1991. She served as Director of its Higgins Labor Research Center (now its Higgins Labor Studies Program) from 1997 to 2007. It further promoted her to Professor of Economics and Policy Studies on August 22, 2005. She had an In Residence Fellowship at the Mary Ingraham Bunting Institute at Radcliffe College
from 1987 to 1988.
She serves as a public trustee for the health care VEBA
s for United Auto Workers
retirees of General Motors
, Ford Motor Company
and Chrysler
, and United Steelworkers
retirees of Goodyear Tire and Rubber Company
.
She became a research associate at the Economic Policy Institute in 1994. and is now on the Executive Board. From September 1994 to May 1995, while on leave from Notre Dame, Ghilarducci was Assistant Director of the AFL-CIO
's Department of Employee Benefits. She was a participant in the European Union Visitors Program from March 20 to April 3, 1995.
From 1996 to 2001, she served twice on the Advisory Board of the Pension Benefit Guaranty Corporation
. Concurrently, from 1996 to 2002, she served on the Board of Trustees of the State of Indiana
Public Employees' Retirement Fund.
Ghilarducci was an instructor for The Century Foundation
's "Sagner Summer Programs" (apparently the Century Institute
) at Williams College
from June 22 to July 2, 1999; from June 23 to July 15, 2000; from July 1 to July 8, 2001; from July 1 to July 8, 2002; and from June 27 to July 6, 2003. She has been a member of the of the General Accounting Office's Retirement Policy Advisory Panel since 2002.
She was a Wurf
Fellow at The Labor and Worklife Program at Harvard Law School
from 2007 to 2009.
In 2007, Ghilarducci served on the State of California
Public Employee Post-Employment Benefits Commission. She joined the faculty of The New School in January 2008.
In February 2009, she joined Demos
as a Distinguished Senior Fellow.
The Alfred P. Sloan Foundation
, the United States Department of Labor
, the Ford Foundation
, the Retirement Research Foundation and the Rockefeller Foundation
have funded her research.
, but would be separate from Social Security records. In turn, a refundable tax credit
of $600 would go to each participant, regardless of his contributions. The account would have a guaranteed interest rate equal to the government's official inflation rate
plus three percent.
Videos of lectures given by her and interviews with her can be found on YouTube
.
in jest called her "the Most Dangerous Woman in America". Ghilarducci reported to Princeton University Press
that she was surprised to discover that the label was being applied to her.
Bernard L. Schwartz
Bernard Leon Schwartz was the Chairman of the Board and CEO of Loral Space & Communications, Chairman and CEO of K&F Industries, Inc., Chairman and CEO of Loral Corp., and president and CEO of Globalstar. He retired from Loral and his positions at its various subsidiaries and affiliates as of...
Chair of Economic Policy Analysis and director of the Schwartz Center for Economic Policy Analysis in the Department of Economics
Economics
Economics is the social science that analyzes the production, distribution, and consumption of goods and services. The term economics comes from the Ancient Greek from + , hence "rules of the house"...
at The New School
The New School
The New School is a university in New York City, located mostly in Greenwich Village. From its founding in 1919 by progressive New York academics, and for most of its history, the university was known as the New School for Social Research. Between 1997 and 2005 it was known as New School University...
's New School for Social Research. She is a board member and research associate at the Economic Policy Institute
Economic Policy Institute
The Economic Policy Institute is a 501 non-profit, liberal, nonpartisan think tank that seeks to broaden the public debate about strategies to achieve a prosperous and fair economy...
, and a member of the Academic Advisory Board of the National Institute on Retirement Security
National Institute on Retirement Security
National Institute on Retirement Security is a nonpartisan non-profit research institute based in Washington, D.C.The institute's describes its goals as seeking to "contribute to informed policy making in the area of retirement security by fostering a deep understanding of the value of...
. She is also a member of the American Economic Association
American Economic Association
The American Economic Association, or AEA, is a learned society in the field of economics, headquartered in Nashville, Tennessee. It publishes one of the most prestigious academic journals in economics: the American Economic Review...
,
the Labor and Employment Relations Association
Labor and Employment Relations Association
The Labor and Employment Relations Association, founded in 1947, as the Industrial Relations Research Association, is an organization for professionals in industrial relations and human resources. Headquartered at the at the , the national organization has more than 3,000 members...
and the National Academy of Social Insurance. She won an Association of American Publishers
Association of American Publishers
The Association of American Publishers is the national trade association of the American book publishing industry. AAP has more than 300 members, including most of the major commercial publishers in the United States, as well as smaller and non-profit publishers, university presses and scholarly...
award for her book Labor's Capital: The Economics and Politics of Employer Pensions in 1992.
Education
She obtained a B.A.Bachelor of Arts
A Bachelor of Arts , from the Latin artium baccalaureus, is a bachelor's degree awarded for an undergraduate course or program in either the liberal arts, the sciences, or both...
in Economics from University of California, Berkeley
University of California, Berkeley
The University of California, Berkeley , is a teaching and research university established in 1868 and located in Berkeley, California, USA...
in 1978. She graduated from there in 1984 with a Ph.D.
Doctor of Philosophy
Doctor of Philosophy, abbreviated as Ph.D., PhD, D.Phil., or DPhil , in English-speaking countries, is a postgraduate academic degree awarded by universities...
in Economics.
Career
While a student at UC Berkeley from 1979 to 1983, Ghilarducci was a research assistant at its Institute of Industrial Relations (now its Institute for Research on Labor and Employment).She was hired as an Assistant Professor of Economics at the University of Notre Dame
University of Notre Dame
The University of Notre Dame du Lac is a Catholic research university located in Notre Dame, an unincorporated community north of the city of South Bend, in St. Joseph County, Indiana, United States...
in 1983; she was promoted to Associate Professor of Economics in 1991. She served as Director of its Higgins Labor Research Center (now its Higgins Labor Studies Program) from 1997 to 2007. It further promoted her to Professor of Economics and Policy Studies on August 22, 2005. She had an In Residence Fellowship at the Mary Ingraham Bunting Institute at Radcliffe College
Radcliffe College
Radcliffe College was a women's liberal arts college in Cambridge, Massachusetts, and was the coordinate college for Harvard University. It was also one of the Seven Sisters colleges. Radcliffe College conferred joint Harvard-Radcliffe diplomas beginning in 1963 and a formal merger agreement with...
from 1987 to 1988.
She serves as a public trustee for the health care VEBA
Voluntary Employee Beneficiary Association
A voluntary employees' beneficiary association is a form of trust fund permitted under American tax law whose sole purpose must be to provide employee benefits...
s for United Auto Workers
United Auto Workers
The International Union, United Automobile, Aerospace and Agricultural Implement Workers of America, better known as the United Auto Workers , is a labor union which represents workers in the United States and Puerto Rico, and formerly in Canada. Founded as part of the Congress of Industrial...
retirees of General Motors
General Motors
General Motors Company , commonly known as GM, formerly incorporated as General Motors Corporation, is an American multinational automotive corporation headquartered in Detroit, Michigan and the world's second-largest automaker in 2010...
, Ford Motor Company
Ford Motor Company
Ford Motor Company is an American multinational automaker based in Dearborn, Michigan, a suburb of Detroit. The automaker was founded by Henry Ford and incorporated on June 16, 1903. In addition to the Ford and Lincoln brands, Ford also owns a small stake in Mazda in Japan and Aston Martin in the UK...
and Chrysler
Chrysler
Chrysler Group LLC is a multinational automaker headquartered in Auburn Hills, Michigan, USA. Chrysler was first organized as the Chrysler Corporation in 1925....
, and United Steelworkers
United Steelworkers
The United Steel, Paper and Forestry, Rubber, Manufacturing, Energy, Allied Industrial and Service Workers International Union is the largest industrial labor union in North America, with 705,000 members. Headquartered in Pittsburgh, U.S., the United Steelworkers represents workers in the United...
retirees of Goodyear Tire and Rubber Company
Goodyear Tire and Rubber Company
The Goodyear Tire & Rubber Company was founded in 1898 by Frank Seiberling. Goodyear manufactures tires for automobiles, commercial trucks, light trucks, SUVs, race cars, airplanes, farm equipment and heavy earth-mover machinery....
.
She became a research associate at the Economic Policy Institute in 1994. and is now on the Executive Board. From September 1994 to May 1995, while on leave from Notre Dame, Ghilarducci was Assistant Director of the AFL-CIO
AFL-CIO
The American Federation of Labor and Congress of Industrial Organizations, commonly AFL–CIO, is a national trade union center, the largest federation of unions in the United States, made up of 56 national and international unions, together representing more than 11 million workers...
's Department of Employee Benefits. She was a participant in the European Union Visitors Program from March 20 to April 3, 1995.
From 1996 to 2001, she served twice on the Advisory Board of the Pension Benefit Guaranty Corporation
Pension Benefit Guaranty Corporation
The Pension Benefit Guaranty Corporation is an independent agency of the United States government that was created by the Employee Retirement Income Security Act of 1974 to encourage the continuation and maintenance of voluntary private defined benefit pension plans, provide timely and...
. Concurrently, from 1996 to 2002, she served on the Board of Trustees of the State of Indiana
Indiana
Indiana is a US state, admitted to the United States as the 19th on December 11, 1816. It is located in the Midwestern United States and Great Lakes Region. With 6,483,802 residents, the state is ranked 15th in population and 16th in population density. Indiana is ranked 38th in land area and is...
Public Employees' Retirement Fund.
Ghilarducci was an instructor for The Century Foundation
The Century Foundation
The Century Foundation is an US progressive think tank. It was founded as a nonprofit public policy research institution on the belief that the prosperity and security of the United States depends on a mix of effective government, open democracy, and free markets. The Foundation is headquartered...
's "Sagner Summer Programs" (apparently the Century Institute
Century Institute
The Century Institute is a summer program for politically liberal college students. It is sponsored by the Century Foundation, a liberal think tank started in 1919 by Edward A. Filene in opposition to programs run by conservative groups such as the Heritage Foundation and American Enterprise...
) at Williams College
Williams College
Williams College is a private liberal arts college located in Williamstown, Massachusetts, United States. It was established in 1793 with funds from the estate of Ephraim Williams. Originally a men's college, Williams became co-educational in 1970. Fraternities were also phased out during this...
from June 22 to July 2, 1999; from June 23 to July 15, 2000; from July 1 to July 8, 2001; from July 1 to July 8, 2002; and from June 27 to July 6, 2003. She has been a member of the of the General Accounting Office's Retirement Policy Advisory Panel since 2002.
She was a Wurf
Jerome Wurf
Jerome Wurf was a U.S. labor leader and president of the American Federation of State, County and Municipal Employees from 1964 to 1981.Wurf was born in New York City in 1919...
Fellow at The Labor and Worklife Program at Harvard Law School
Harvard Law School
Harvard Law School is one of the professional graduate schools of Harvard University. Located in Cambridge, Massachusetts, it is the oldest continually-operating law school in the United States and is home to the largest academic law library in the world. The school is routinely ranked by the U.S...
from 2007 to 2009.
In 2007, Ghilarducci served on the State of California
California
California is a state located on the West Coast of the United States. It is by far the most populous U.S. state, and the third-largest by land area...
Public Employee Post-Employment Benefits Commission. She joined the faculty of The New School in January 2008.
In February 2009, she joined Demos
Demos (U.S. think tank)
Demos is a United States-based research and policy center that was founded in 2000. Based on its widely cited work in the media and growing impact on national and state policy, Demos continues to influence North American debate about election reform and economic security, with a particular emphasis...
as a Distinguished Senior Fellow.
The Alfred P. Sloan Foundation
Alfred P. Sloan Foundation
The Alfred P. Sloan Foundation is a philanthropic non-profit organization in the United States. It was established in 1934 by Alfred P. Sloan, Jr., then-President and Chief Executive Officer of General Motors.-Overview:...
, the United States Department of Labor
United States Department of Labor
The United States Department of Labor is a Cabinet department of the United States government responsible for occupational safety, wage and hour standards, unemployment insurance benefits, re-employment services, and some economic statistics. Many U.S. states also have such departments. The...
, the Ford Foundation
Ford Foundation
The Ford Foundation is a private foundation incorporated in Michigan and based in New York City created to fund programs that were chartered in 1936 by Edsel Ford and Henry Ford....
, the Retirement Research Foundation and the Rockefeller Foundation
Rockefeller Foundation
The Rockefeller Foundation is a prominent philanthropic organization and private foundation based at 420 Fifth Avenue, New York City. The preeminent institution established by the six-generation Rockefeller family, it was founded by John D. Rockefeller , along with his son John D. Rockefeller, Jr...
have funded her research.
Politics
In her book When I'm Sixty-Four: The Plot against Pensions and the Plan to Save Them, Ghilarducci proposed mandatory participation in a government-run savings plan to which each worker and their employer would supplement their Social Security pension by contributing 2.5 percent each of her or his salary. The plan would be administered by the Social Security AdministrationSocial Security Administration
The United States Social Security Administration is an independent agency of the United States federal government that administers Social Security, a social insurance program consisting of retirement, disability, and survivors' benefits...
, but would be separate from Social Security records. In turn, a refundable tax credit
Tax credit
A tax credit is a sum deducted from the total amount a taxpayer owes to the state. A tax credit may be granted for various types of taxes, such as an income tax, property tax, or VAT. It may be granted in recognition of taxes already paid, as a subsidy, or to encourage investment or other behaviors...
of $600 would go to each participant, regardless of his contributions. The account would have a guaranteed interest rate equal to the government's official inflation rate
Inflation rate
In economics, the inflation rate is a measure of inflation, the rate of increase of a price index . It is the percentage rate of change in price level over time. The rate of decrease in the purchasing power of money is approximately equal.The inflation rate is used to calculate the real interest...
plus three percent.
Videos of lectures given by her and interviews with her can be found on YouTube
YouTube
YouTube is a video-sharing website, created by three former PayPal employees in February 2005, on which users can upload, view and share videos....
.
Criticism
In response to her book, When I'm Sixty-Four: The Plot against Pensions and the Plan to Save Them, James Pethokoukis of U.S. News & World ReportU.S. News & World Report
U.S. News & World Report is an American news magazine published from Washington, D.C. Along with Time and Newsweek it was for many years a leading news weekly, focusing more than its counterparts on political, economic, health and education stories...
in jest called her "the Most Dangerous Woman in America". Ghilarducci reported to Princeton University Press
Princeton University Press
-Further reading:* "". Artforum International, 2005.-External links:* * * * *...
that she was surprised to discover that the label was being applied to her.
Selected works
- When I'm Sixty-Four: The Plot against Pensions and the Plan to Save Them. 384 pages. Princeton University Press (May 18, 2008) ISBN 0691114315
- Employee Pensions: Policies, Problems, and Possibilities. 236 pages. ILR Press; 1 edition (August 2007) ISBN 0913447951
- Work Options for Older Americans. 488 pages. University of Notre Dame Press; 1 edition (April 1, 2007) ISBN 0268029709
- Portable Pension Plans for Casual Labor Markets: Lessons from the Operating Engineers Central Pension Fund. 216 pages. Quorum Books (November 30, 1995) by Teresa Ghilarducci, Garth Mangum, Jeffrey S. Petersen, Peter Philips. ISBN 089930995X
- Labor's Capital: The Economics and Politics of Private Pensions. 227 pages. The MIT Press (June 3, 1992) ISBN 0262071398
External links
- The New School: Faculty: Ghilarducci, Teresa
- Economic Policy Institute: Teresa Ghilarducci (EPI publications authored by her)
- United States House of Representatives: Committee on Education and Labor: Saving Retirement in the Face of America’s Credit Crises: Short Term and Long Term Solutions (oral testimony submitted on October 7, 2008 for The Impact of the Financial Crisis on Workers’ Retirement Security)
- Annuity Digest: Teresa Ghilarducci on Pension Reform (contains embedded video)