A new report "Pensions and Retirement Security 2011: A Roadmap for Policymakers," released by the National Institute on Retirement Security finds that 84% of Americans are anxious about retirement and generally have low retirement expectations:
- The U.S. retirement system is under stress and in need of reform. Nearly 9 out of 10 Americans believe the retirement system is under stress and needs to be reformed. More than 80% of Americans believe that recent economic downturn exposed the risks of America's retirement system. Nearly three-quarters of Americans believe that stock market volatility makes it impossible for the average American to predict how much money they will have in their nest egg when they retire, underscoring the flaws of the current retirement system.
- Pensions are reliable and relieve retirement anxiety. Some83% of Americans indicated that those with pensions are more likely to have a secure retirement, and 72% of those who have a pension are confident it will be there at retirement. Moreover, 75% believe the disappearance of pensions has made it harder to achieve the "American Dream."
The full report is available here.
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