The recession and slow recovery are preventing baby boomers from adequately saving for retirement. According to a new study by The Insured Retirement Institute, 30 percent of boomers stopped contributing to a retirement plan and 16 percent prematurely withdrew funds from a retirement plan in the past year.

The study also found that 22 percent of Boomers have no retirement savings and of those who said they do have retirement savings, 40 percent of those have saved less than $100,000.

"At a time when a quarter of Boomers reported difficulty paying the rent or the mortgage, it is easy to understand why saving for retirement has taken a back seat," IRI President and CEO Cathy Weatherford said. "But as the economy recovers, it will be imperative that boomers get back on the path toward a financially secure retirement. Working with a financial advisor could be just the ticket, as 43 percent of Boomers who have consulted a financial advisor have the highest levels of confidence in achieving financial security throughout their retirement years."

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