Retirement Readiness in New York City: Trends in Plan Sponsorship, Participation, and Preparedness

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

No 2015-04, SCEPA publication series. from Schwartz Center for Economic Policy Analysis (SCEPA), The New School

Abstract: New Yorkers need safe and convenient mechanisms to save for old age. Secure pension income helps strengthen the city's financial future by keeping social spending down and older residents' spending power up. However, fewer than half of New York residents have access to a retirement plan at work. Low and decreasing rates of employer sponsorship of retirement plans and the shift from traditional pension plans to 401(k)-type plans are threatening New Yorkers' financial readiness for retirement.

Keywords: Retirement; 401(k); Sponsorship; New York City; City (search for similar items in EconPapers)
JEL-codes: D63 E21 H55 J26 J32 (search for similar items in EconPapers)
Pages: 20 pages
Date: 2015-06
New Economics Papers: this item is included in nep-age and nep-mac
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Persistent link: https://EconPapers.repec.org/RePEc:epa:cepapb:2015-04

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