Chart of the day

Posted: 24 April 2016 in Uncategorized
Tags: , , , ,

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According to a new report on the state of U.S. retirement by the Economic Policy Institute, many Americans rely on savings in 401(k)-type accounts to supplement Social Security in retirement. This is a pronounced shift from a few decades ago, when many retirees could count on predictable, constant streams of income from traditional pensions.

Almost nine in 10 families in the top income fifth had savings in retirement accounts in 2013, compared with less than one in 10 families in the bottom quintile. This reflects a growing disparity in the new millennium as the share of families with retirement account savings declined significantly for all except the top income group.

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