Tag: Census
The following statistic will sound familiar since I use it regularly: about half of U.S. workers are not saving enough and may see their standard of living drop when they retire. A major culprit in this poor state of preparedness is that millions of Americans at any given moment don’t have a traditional pension or…
The brief’s key findings are: Some claim that retirees are better off than many think, because Census’s Current Population Survey (CPS) does not capture most 401(k)/IRA income. Indeed, the CPS dramatically under-reports 401(k)/IRA income, a serious problem given the shift from defined benefit to defined contribution plans. Interestingly, though, the problem is largely concentrated among upper-income households, whic…
