Its not the defined benefit pension plans that public employees pay into over a lifetime of work ... the crisis is that most Americans lack the essential elements of a secure retirement—pensions and adequate savings. Theyll depend on Social Security to stave off poverty once they stop working, and it will not be enough. The crisis is that the median retirement savings for all working-age households—according to the Federal Reserve—is $3,000, and only $12,000 for those near retirement.
Posted on: Mon, 28 Apr 2014 23:05:28 +0000
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