One Third of Retirees Likely to Be In Poverty

New research shows that one-third of U.S. workers nearing retirement will live in or near poverty upon leaving their jobs.  The root of this problem could be linked to a sharp decline in employer sponsored retirement plans over the last 15 years. 

Only 53 percent of workers from 25-64 had access to an employer sponsored retirement savings plan in 2011, compared to 61 percent in 1999.  Unfortunately, the report found that this downward trend is likely to continue.

See Dan Kadlec, 1 in 3 Older Workers Likely to Be Poor or Near Poor in Retirement, Money, Apr. 8, 2015.