"The question of whether Americans are ready to retire is only going to gain urgency in the next several years as more and more baby boomers jump into the pool of retired Americans," said David Wyss, chief economist for Standard & Poor's. "The statistics suggest that retirement isn't going to be nearly as comfortable as most boomers would like it to be."
The Center for Retirement Research (CRR) at Boston College estimates that 43% of Americans are "at risk," meaning unable to maintain their current standard of living in retirement. Most Americans seem to understand their situation. Only 19% of the population responds that they are prepared when they really aren't, according to the CRR survey. The bad news is that many Americans don't seem to be doing much about it, whether through saving, paying off debt, or taking advantage of preretirement investment opportunities available to them.
The other articles included in this special report are:
-- A Deep Dive Into The Red For Corporate Pension And OPEB Funding
-- Corporate Pension Plans: As 2008 Funding Levels Fall, Credit Pressures Rise
-- How Unfunded Postretirement Benefits Could Weaken The Credit Quality Of Some U.S. Retailers
-- Credit FAQ: Will Mounting Funding Pressures On Multiemployer Pension Plans Hurt Issuers' Credit Quality?
-- No Immediate Pension Hardship For State And Local Governments, But Plenty Of Long-Term Worries
-- U.S. States' OPEB Liabilities And Funding Strategies Vary Widely
-- Market Declines Will Shake Up U.S. State Pension Funding Stability
-- Largest U.S. Cities Show Mixed Progress In Meeting Their OPEB Liabilities
-- U.S. Economic Forecast: The Teddy Bears' Panic
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Media Contact:
Mimi Barker, New York (1) 212-438-5054, [email protected]
Analyst Contact:
David Wyss, New York (1) 212-438-4952