WISH Granted: How a National Long-Term Services and Supports Insurance Program Could Boost Retirement Outcomes

• Overall, among households projected to qualify for WISH benefits, we found that the proposal substantially reduced the share of households with a retirement shortfall. For example, the shortfall rate dropped from 58% to 28% for single women and 34% to 16% for single men.   

• Gen Z and millennials saw the largest reductions in the probability of running short of money in retirement due to the impact of the WISH Act. 

• In general, middle-income households experienced the greatest improvement in retirement-income adequacy, with shortfall rates falling by as much as 36%.

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