United States Dropping in Retirement Rankings
40%: American workers who saved for retirement in an employer plan last year
Only 40% of American workers took part in their employer's retirement savings plan last year, according to the Employee Benefit Research Institute. Despite the tough economy, this number is troublingly low. In fact, the US dropped down to 11th place in the Melbourne Mercer Global Pension Index, a ranking of international retirement systems. This is a decrease of two spots in the index from last year, and further reiterates the growing issue of Americans not saving enough, especially for their increasing life spans.
In these uncertain financial times, retirement may seem like a far off dream. However, it is possible to prepare for a solid future in a number of ways. Starting to save for retirement early, investing wisely, and using catch up payments are all ways to make sure that you won't outlive your savings. Read more about these tips in our Retirement Center, and meet CoRI to see how your current retirement funds will help fund your future.
Source: Businessweek, "US Drops to No. 11 in Global Retirement Rankings," 10/8/13; Employee Benefit Research Institute
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