Why Pensions Are Important
This fact sheet explains the role pensions play in the overall retirement security of American workers, retirees, and their families. Pensions are Important to Retirement Security Social Security provides only a safety net. Average yearly Social Security payment: $18,605 Annual minimum-wage salary: $15,080 Average portion of pay Social Security replaces: 34.4% Most retirees have little […]
How many American workers participate in workplace retirement plans?
Annual figures from the Bureau of Labor Statistics help paint a picture of the number of Americans who participate in a retirement plan at work. Typically in any year only half of workers participate in a retirement plan at work. In 2018 participation by all civilian workers, full and part-time, was 56 percent. The information […]