Are Retirees Falling Short? Reconciling the Conflicting Evidence

Alicia Munnell, Matthew Rutledge and Anthony Webb ()

Issues in Brief from Center for Retirement Research

Abstract: The brief’s key findings are: *Federal Reserve data show that retirement preparedness has been declining over time, but studies on the level of preparedness offer conflicting assessments. *The National Retirement Risk Index (NRRI) finds half of households are “at risk,” while studies of optimal savings suggest less than one-tenth will fall short. *The optimal savings results depend crucially on two assumptions: *households spend less when their kids leave home (the NRRI assumes no decline); and *households plan for declining consumption in retirement (the NRRI assumes steady consumption). *While the issue remains unsettled, the Federal Reserve data are consistent with the NRRI finding that retirement shortfalls are a growing problem.

Pages: 7 pages
Date: 2015-03
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Working Paper: Are Retirees Falling Short? Reconciling the Conflicting Evidence (2014)
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