Title: Inadequate Retirement Savings for Workers Nearing Retirement
Abstract: Without a universal supplement to Social Security, many of the 24 million workers ages 55-64 will face declining living standards or poverty in just 10 years. One-third of older workers have neither retirement savings through a 401(k) or IRA, or a defined benefit (DB) pension. Overall, the median account balance of workers approaching retirement is just $15,000. The median account balance for those with retirement savings is just $92,000.
Publication Year: 2017
Publication Date: 2017-08-01
Language: en
Type: article
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Cited By Count: 40
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