A new study by the Transamerica Center for Retirement Studies shows the devastating impact the Great Recession has had on the retirement outlook of displaced American workers who lost their jobs or are underemployed.
The study, part of the 13th Annual Transamerica Retirement Survey, found that only 10 percent of displaced workers believe they will be able to retire comfortably.
Sixty-one percent of displaced workers reported having a retirement savings account, but more than one-third of those have taken money out of those accounts. Of those who participated in a 401(k) plan at their most recent employer where they were fully employed, 45 percent indicated they have taken a withdrawal from these accounts, including 63 percent of the unemployed compared to 34 percent of the underemployed.
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