Pension Coverage and Retirement Security

The brief’s key findings are:

• Private pensions cover only about half the workforce at any given time.

• The lack of coverage creates two types of problems:
• about one third of households never have coverage and end up relying solely on Social Security; and
• many others move in and out of coverage, resulting in inadequate saving.

• Expanding coverage is a good goal but only a partial solution, as even those with coverage may need an additional tier of saving.