Social Security Will Not Provide Sufficient Retirement Income - PlanSponsors
The latest research from Vanguard found that Social Security will not provide adequate retirement income for low-income workers. The report states, “The goal for an average saver is to replace at least 70% to 85% of pre-retirement income in retirement, but the sustainable income replacement rate.” The report estimates that Social Security replaces anywhere from 18 percent of high-wage earners’ income to 62 percent of lower-wage earner’s income. Remy Samuels reports on the findings and what policy makers and plan sponsors can do to help low-income workers address their retirement savings shortfall. Read Ms. Samuel’s article here…
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