Most Americans are not saving enough for retirement. The Retirement Security Project found that more than half of all U.S. households had zero savings in an employer-based 401(k)-type plan or tax-preferred savings plan account—and the median savings for those who did hold such accounts was only $34,000.
From 2004 to 2010, Pew worked in partnership with Georgetown University’s Public Policy Institute and the Brookings Institution on the Retirement Security Project, dedicated to promoting common-sense solutions that will improve the retirement income prospects of millions of American workers. The project promoted best practices for retirement savings, such as having employees "opt out" of 401(k) plans rather than "opting in." In addition, the project published policy and legislative analyses, original research, and working and discussion papers. Project staff have presented testimony to Congress.
The Retirement Security Project also hosted public forums on retirement security and conducted outreach and communication on the topic. These efforts promoted better retirement savings practices and policies as well as keeping the public informed about important new developments.
How Retirement Accounts Are Treated in Means-Tested Programs And Steps to Remove Barriers to Retirement Saving
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Experts explore the long-term challenges of public sector retirement costs at a Pew Center on the States conference. Read More
As the baby boomers approach retirement, hardly a day passes without reference to concerns — in media outlets, policy discussions, and research circles — about whether households are saving enough to finance adequate living standards in retirement. Most of this discussion, however, focuses on the generation as a whole. In this paper, we explore financial prospects and problems for women and... Read More
The Book 'Aging Gracefully: Ideas to Improve Retirement Security in America' (Spring 2007 Trust Magazine briefing)
A proposes legislative and administrative changes that would make saving for retirement easier for middle- and lower-income households, while at the same time offering practical savings ideas for workers. Aging Gracefully: Ideas to Improve Retirement Security in America was published by the Century Foundation Press and written by William G. Gale, J. Mark Iwry and Peter R. Orszag, Brookings... Read More