Social Security Report

Looming Retirement Crisis as Americans Struggle to Save - AMAC & CNN

Nicole Goodkind of CNN explains the retirement-savings cliff in this piece. According to Bureau of Labor Statistics data, the number of U.S. workers in the labor market over the age of 75 is expected to nearly double over the next decade. Pension plans have become almost nonexistent. Social Security replaces too little pre-retirement income and is itself facing insolvency in 8-9 years. That leaves the 401(k) plan, which 68% of private industry workers have access to, but only 50% use. Read the full article here.

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