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September 17, 2010 at 08:00 PM
The Center for Retirement Research at Boston College pegs the retirement income deficit for Americans at $6.6 trillion.
The retirement income deficit represents the gap between the pensions, Social Security income, and retirement savings that American households have today and what they should have to maintain their living standards in retirement, according to Retirement USA, Washington, a coalition of consumer and labor groups that sponsored the study.
The Retirement Income Deficit is based on projections of retirement and Social Security income and accumulated wealth for American workers ages 32-64, the peak earning and saving years, using data from the Federal Reserve Board’s Survey of Consumer Finances, Retirement USA says.
