Poverty

The days when workers could count on a comfortable retirement after a lifetime of company devotion are a distant memory for most. Public pension funds across the country teeter on the edge of collapse, and the traditional company pensions that sustained previous generations through their golden years are fading into the sunset.

You might think so if you read some recent stories in the news about wealth differences among generations. But you may want to think again.

California workers are less likely than most Americans to have employer-sponsored retirement plans, according to a new academic report, and nearly half of them will retire in or near poverty status.

New Census Bureau data released earlier this week shows that more Americans are living in poverty now than at any time since 1993. While an increase might be understandable, given the uncertain economy, the numbers are still staggering.