Archive: Financing Retirement
At any given time, only about half of U.S. private sector workers are covered by an employer-sponsored retirement plan, and few workers save without one. The coverage gap, which undermines the retirement income security of the nation’s workers, is driven by a lack of coverage among small employers. But, in fact, about half of firms…
Late Boomers have surprisingly low levels of retirement wealth compared to earlier cohorts. A decline in some wealth components had been expected as a result of the rise in Social Security’s Full Retirement Age and the shift from defined benefit to defined contribution plans. But increasing 401(k)/IRA balances were predicted to offset the gap, sinc…