EBRI Says Adequacy Of Retirement Income Still A Concern
The adequacy of retirees income remains a public policy concern, according to Craig Copeland in the May Issue Brief by Employee Benefit Research Institute, Washington.
In the brief, the senior research associate examines overall pension/retirement plan participation rates among all workers 16 and older.
Many high-income U.S. residents are saving for their later years, but many arent, he says.
When Copeland looked at newly released pension plan participation data from the U.S. Census Bureau, he found that, even among U.S. residents who were making at least $50,000 in 1993 dollars in 1998, 25% were not participating in a pension plan.
For those making less than $5,000 in constant 1993 dollars in 1998, the pension plan participation rate was only 13%, Copeland says.