Retirement Vehicles Underused…

November 2005
Journal of Financial Planning;Nov2005, Vol. 18 Issue 11, p20
Academic Journal
This article highlights a study by the U.S. Employee Benefit Research Institute (EBRI) which found that U.S. citizens are not making very good use of their vehicles for funding retirement. EBRI noted that 25 percent of current retirees rely totally on Social Security. It also found that the median balance in 401 (k) plans is $18, 000, versus $11,600 in 1996 and that 20 percent of private-sector workers participate in a defined-pension plan today, versus 27 percent in 1984. EBRI also found that the average balances for workers in their sixties with more than 30 years of service is $168,000.


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