NU Online News Service, May 20, 5:05 p.m. – A researcher at the Employee Benefit Research Institute, Washington, is warning that it's still not clear how the baby boomers are going to pay for retirement.
Many high-income U.S. residents are saving something for their later years, but plenty aren't, according to Craig Copeland, an EBRI senior research associate.
When Copeland looked at newly released pension plan participation data from the U.S. Census Bureau, he found that, even among U.S. residents who were making at least $50,000 in 1993 dollars in 1998, 25% were not participating in a pension plan.
For those making less than $5,000 in constant 1993 dollars in 1998, the pension plan participation rate was only 13%, Copeland writes in a report on the census data.