Analyzing Health and Retirement Study data for households with a respondent aged 51 to 56, the researchers examined pension participation, pension wealth, and projected retirement income from 1992 through 2010. "Although retirees will need more from employer-sponsored plans," say the researchers, "they will receive less" for several reasons...
- The percentage of households with either a defined-benefit or defined contribution retirement plan fell from 68 to 63 percent between 1992 and 2010.
- Median pension wealth for 51-to-56-year-olds with coverage in 2010 was only $162,852, down from $187,584 in 2004.
- The most-educated quartile of households control a growing share of pension wealth. In 2010, they controlled 52% of defined-contribution retirement plan wealth.
- Median projected retirement income from retirement plans was just $20,813 in 2010, down from $24,657 in 2004.
Source: Center for Retirement Research at Boston College, Pension Participation, Wealth, and Income: 1992-2010