Retirement Readiness in North Carolina

Teresa Ghilarducci, Joelle Saad-Lessler and Lauren Schmitz
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Lauren Schmitz: Schwartz Center for Economic Policy Analysis (SCEPA), https://www.economicpolicyresearch.org

No 2012-05, SCEPA publication series. from Schwartz Center for Economic Policy Analysis (SCEPA), The New School

Abstract: This study utilizes data from the Current Population Survey (CPS) to compute sponsorship trends in North Carolina. The decrease in sponsorship rates, coupled with low rates of participation in retirement accounts and inadequate accumulated savings to sustain one's living standards in retirement are cause for concern. The numbers in this report indicate that 47% of North Carolina workers nearing retirement will be poor or near poor if they retire at age 65. Sixty-three percent of workers aged 55-64 without any workplace retirement plan are projected to be poor or near poor, compared to 27% of workers who have a retirement plan and are actively participating.

Keywords: Retirement; Social Security; North Carolina (search for similar items in EconPapers)
JEL-codes: E21 H55 J26 (search for similar items in EconPapers)
Pages: 6 pages
Date: 2012-12
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Persistent link: https://EconPapers.repec.org/RePEc:epa:cepapb:2012-05

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