For the vast majority of working men and women, main sources of guaranteed income – employer-provided pensions and Social Security – are increasingly weak and less reliable.
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Social
Security today replaces only a small
fraction of earnings for most workers,
a fraction that is expected to decline
even further. Consequently, Social
Security is not expected to keep up
with inflation. This is particularly
bad news for low- and middle-income
workers, who rely on Social Security
to meet basic living expenses. |
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Decreasing numbers of retirees are receiving regular pension checks, as employers replace traditional pensions with defined contribution plans. Thirty years ago, 40 percent of workers had traditional pensions; today the amount is 21 percent and dropping. Among low- and middle-income workers, lack of pension coverage is especially a problem (See Table 2).
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Fewer than 20 percent of workers with less than a high school degree have employer-sponsored retirement plans, compared with almost two-thirds of workers with college degrees.
Americans for Secure Retirement seeks to make it easier for working men and women to have a comfortable standard of living throughout their retirement.
Learn about others who are at risk.
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WOMEN
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FARMERS
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HISPANIC -
AMERICANS |
WORKING
FAMILIES | ||||
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