A comfortable retirement is nearly impossible for most of the American workforce.
Longer lifespans, a major savings shortfall and increasing standard-of-living costs — particularly around health care — are just a few of the reasons why Americans face a retirement savings deficit of between roughly $7 trillion and $14 trillion, according to the National Institute on Retirement Security. The median retirement account for workers nearing retirement age holds only $12,000, whereas the conventional advice is to have about $1 million, or at least 10 times someone’s annual income.
Have press inquiries? Please reach out.
Join 22,000+ HR pros who receive monthly employee benefits insights, straight to their inbox.