Eighty-one percent of Americans say they would support an act by Congress to make pensions more widely available, according to a nationwide report by the National Institute on Retirement Security.

This type of pension would be transferable between jobs, allow for regular checks through retirement, easily administrable for employers and provide professional money management, as described by the report, which reflect similar characteristics of a possible proposal by the U.S. Senate known as Universal, Secure and Adaptable Retirement Funds. Millennial respondents are especially supportive of this with 88 percent agreeing it would be a good move.

The report also finds 85 percent of respondents feel highly anxious about their retirement prospects and believe pensions could better their retirement readiness. While retirement is still many years away, 95 percent of millennial respondents say the U.S. retirement system is facing stress and in need of repair. An additional 87 percent of respondents say as more baby boomers are retiring without pensions or adequate savings, it is straining families as well as the economy.

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