A changing retirement landscape for 3 generations [infographic]

One quarter of baby boomers have a back-up plan for retirement income if unable to work prior to their planned retirement. And nearly 72 percent of millennials are saving for retirement in a company-sponsored 401(k) or similar plan outside the workplace.

Related: You risk a ragged retirement if you’re counting on these numbers

These are among the high-level findings of a 2016 “Transamerica Retirement Survey of Workers.” The 17^th annual report offers perspectives on retirement among three generations of workers: boomers, Gen Xers and millennials.

The report’s conclusions are as much a cause for concern as optimism. Nearly half of boomers (45 percent) are expecting a decrease in their standard of living when they retire. And more than 8 in 10 (83 percent) of Gen X workers believe their generation will have a “harder time” achieving financial security than their parents’ generation.