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UNDERNEWS

Undernews is the online report of the Progressive Review, edited by Sam Smith, who covered Washington during all or part of ten of America's presidencies and who has edited alternative journals since 1964. The Review, which has been on the web since 1995, is now published from Freeport, Maine. We get over 5 million article visits a year. See prorev.com for full contents of our site

March 11, 2010

43% OF WORKERS HAVE LESS THAN $10K IN RETIREMENT FUNDS

CNN - The percentage of workers who said they have less than $10,000 in savings grew to 43% in 2010, from 39% in 2009, according to the Employee Benefit Research Institute's annual Retirement Confidence Survey. That excludes the value of primary homes and defined-benefit pension plans.

Confidence in ability to save enough for a comfortable retirement hovered at 16% of respondents, the second lowest point in the 20-year history of the survey.

The percentage of workers who said they have saved for retirement fell to 69%, from 75% in 2009.

According to the survey, 24% of workers said they have postponed their planned retirement age in the past year, up from 14% in 2008.


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