The article highlights the struggles today's workers face in preparing for retirement amid economic disruptions and a fluctuating job market. Catherine Collinson of TCRS emphasizes the increased burden on workers, who are expected to self-fund a larger portion of their retirement income compared to previous generations. The 25th Annual Retirement Survey reveals that while employed workers have greater opportunities, they also contend with limited savings and job insecurity. The nonprofit urges employers and policymakers to enhance retirement savings options and promote financial literacy to better support the aging U.S. population.
Today's workers are navigating a challenging economic landscape, balancing the need to self-fund retirement amid job instability and rising living costs, according to Catherine Collinson.
Among employed workers, 52% expect 401(k)s and similar vehicles to be their primary retirement income, yet only 28% believe they're saving adequately.
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