When did banks get so cheap?

Re “‘Work longer’ is not a retirement strategy,” Opinion, Feb. 26

Thank you for publishing economist Teresa Ghilarducci’s op-ed article about the United States’ poor retirement system.

My grandparents and parents enjoyed long, comfortable retirements from the 1950s to the 2010s. Bank interest earned on money put into savings was one stable component of their retirement income.

When did the American public accept that it is OK for banks to pay interest rates of less than half a percentage point? Banks are claiming record profits year over year; they are federally regulated, and most deposits are ensured by the Federal Deposit Insurance Corp., yet their loyalty is to stockholders and not depositors.

Can someone explain when all this changed?

MICHAEL KRUBINER

Valley Village

Not everyone wants to retire, although retirement seems to be considered a right everyone should have. But for seniors who are healthy, engaged and want to keep making a valuable contribution to society, a steady diet of leisure is not attractive.

After I retired from UCLA, I was delighted when I was called back for several years more work.

I think the key is finding work you truly enjoy and want to continue for as long as you are able. Doing so will often enable you to live longer.

MARY DAILY WAKE FOREST, N.C.

If I didn’t know better, I’d read this piece and think there was no such thing as Social Security, Medicare, food stamps or low-income housing to help seniors get by in their golden years.

How can any serious argument for new or improved government programs for retired folks not even mention the current regimen and why it isn’t sufficient?

JEFFREY VAUGHN Encino