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PBGC Blog: Retirement Matters

NIRS: The retirement savings crisisA new study answers whether the retirement crisis is worse than we thought. The research report concludes that when all working-age families are counted, the typical family has only a few thousand dollars saved for retirement.

The study reveals:

  • The typical working-age household has only $3,000 in retirement account assets; the typical near-retirement household has only $12,000.
  • Four out of five working families have retirement savings less than one times their annual income.
  • The U.S. retirement savings deficit is between $6.8 and $14.0 trillion, depending on the household assets counted.

These findings are contained in a new research report, The Retirement Savings Crisis: Is it Worse Than We Think?, issued by the National Institute on Retirement Security (NIRS).

Read the full study on the NIRS website.

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