Retirement income adequacy improved for baby boomers and GenXers last year, but that improvement varied by age, income and whether individuals had access to a 401(k)-type retirement plan, according to a report by the Employee Benefit Research Institute.

EBRI found that last year's gains in the housing and financial markets meant that fewer of these households were likely to run short of money in retirement.

Eligibility to participate in an employer-sponsored retirement plan was one of the most important factors when it came to retirement income adequacy, according to EBRI. Generation Xers in the lowest-income quartile with 20 or more years of future eligibility in a defined contribution plan are half as likely to run short of money as those with no years of future eligibility.

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