The poverty risk for older Americans increases 50 percent if they do not have a defined benefit pension plan to fall back on, according to a new study by the National Institute on Retirement Security.
The rates of poverty among older households lacking defined benefit pension income were about nine times greater than the rates among older households with DB pension income in 2010, up from six times greater in 2006.
Elderly people with access to a pension also are less likely to need food, shelter, health care or public assistance.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical BenefitsPRO information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
- Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events
- Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
