Close Close
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards

Retirement Planning > Retirement Investing

ING Study Finds Public Employees Share Same Retirement Stresses as Private Employees

Your article was successfully shared with the contacts you provided.

In a study released Monday by ING Institute for Retirement Research, government employees are finding just as much insecurity and uncertainty about retirement as those in private industry.

According to the study, conducted in conjunction with research firm Synovate, ING found that government employees were unsure or uncomfortable (61%) about being able to save enough for retirement, and 43% have become less confident about their nest eggs since the market downturn began. However, most of them (72%) have not changed their investment rate.

The study also found that government employees are pretty conservative; 74% defined themselves as risk-averse in life, and 50%, more concerned with holding onto what they have rather than growing it, said they were financially conservative.

More than a third (35%) didn’t know how their pension benefits would be determined; 20% of those who participated in a voluntary retirement plan at work didn’t know what their balance was, and 50% had less than $50,000 put away in those voluntary plans.

Those with pension plans (71%) believed their pensions would make up 54% of their retirement income; 49% said they were concerned that the amount they received would change during retirement.


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.