Regional Vice President of Sales The Retirement Plan Company
|
Bates & Company, Inc.
|
AimPoint Pension
|
Loan & Distribution Specialist AimPoint Pension
|
Defined Benefit Combo Cash Balance Compliance Consultant Loren D. Stark Company (LDSCO)
|
Compass
|
“BenefitsLink continues to be the most valuable resource we have at the firm.”
-- An attorney subscriber
Text of Response to Questions at Senate Hearing, 'Pension Savings: Are Workers Saving Enough for Retirement?' (PDF)
Employee Benefit Research Institute [EBRI] Feb. 13, 2013
"This document provides responses to questions raised by members of the Senate HELP Committee at their Jan. 31 hearing on retirement savings. [Questions include:] What percentage of Baby Boomers and Gen Xers are likely to run short of money in retirement, based on the current system/assumptions? ... Approximately 44 percent of Baby Boomer and Gen-Xer households ..., assuming they retire at age 65 ... Of those projected to run short of money in retirement, how much is the shortfall? ... [S]hortfalls for Early Boomers (individuals born between 1948-1954) vary from approximately $70,000 (per individual) for married households, increasing to $95,000 for single males and $105,000 for single females. The aggregate retirement income deficit number, taking into account current Social Security retirement benefits and the assumption that net housing equity is utilized 'as needed,' as well as uninsured health care costs, is currently estimated to be $4.3 trillion for all Baby Boomers and Gen Xers."
|
Please click here to report this link if it is broken (for example, if you see a "404 File Not Found" error message after you click on the linked news item's title). |
An important word about authorship: BenefitsLink® created this link to the news item, but we are not the news item's author (unless expressly shown above). |