As more attention has been brought to the tens of millions ofAmericans with inadequate retirement savings, a common remedyhas emerged from advisors, policy experts, and savers themselves:those without enough money can delay retirement in order to make upfor savings gaps.

According to this year’s Retirement Confidence Survey issued bythe Employee Benefits Research Institute, almost 4in 10 workers expect to retire at age 70 or beyond.

Another 14 percent of respondents plan to retire between age 66and 69. Only 23 percent expect to retire at age 65.

But delaying retirement is likely to be available to far fewerworkers than are counting on the option. This year’s survey showedthat nearly half of retirees left the workforce before they hadplanned, a reality consistent with EBRI’s previous retirementconfidence surveys.

Some retirees were fortunate enough to leave the workforcebecause they could, but most left early for health reasons or tocare for a family member. Others cited downsizing as thereason.

The survey shows a considerable gap between workers’expectations for a delayed retirement and the actual experience ofretirees.

Only 4 percent of retirees reported working to age 70, whilemore than two-thirds retired before 65; and 39 percent retiredbefore age 60.

“The fact that half of current retirees stopped working early isa very sobering statistic for those that plan to delay retirement,”said Luke Vandermillion, vice president of retirement andinvestment services at Principal Financial Group, one of the 17underwriters of EBRI’s survey.

“I think it would be a mistake for people to assume they canwork longer to cover savings shortfalls,” added Vandermillion. “Fora lot of people, that won’t be an option."

Overall retirement confidence remains steady

Americans’ general confidence in their ability to retirecomfortably held steady in EBRI’s 2017 survey, which is the longestrunning of its kind.

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Six in 10 respondents said they are very or somewhat confidentthey will have enough money to fund retirement, compared to 64percent in 2016. General confidence hit 70 percent in 2007, beforeplummeting in the wake of the financial crisis to about 50percent.

Over the course of EBRI’s 27 years of conducting the survey,confidence hit a pinnacle in 1993, when 73 percent of respondentswere at least somewhat confident in their ability to retirecomfortably.

Perhaps the most consistent data is the persistently high numberof Americans with minimal savings.

“Year after year we find significant numbers of people with verylittle saved for retirement,” said Steve Blakely, EBRI’scommunication director, in a press call.

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Only 56 percent of workers said they are currently saving forretirement. Nearly one-quarter of workers report having less than$1,000 saved; for workers without a workplace retirement plan orIRA, 67 percent have less than $1,000 saved.

One in 10 workers have between $50,000 and $100,000 saved, and20 percent have over $250,000.

This year’s study released as state plans, fiduciaryrule hang in the balance

The release of this year’s study comes as the Senate ispreparing to vote on rolling back a Labor Department safe harborthat would make it easier for states to mandate participation instate-administered IRAs, and as the Trump Administration isconsidering rescinding or revising Labor’s fiduciary rule, whichwill require a best interest standard on advice to IRA investorsand 401(k) plan participants.

Related: Are workers fooling themselves about theirretirement readiness?

EBRI’s study shows that those with access to a retirement planare 10 times more likely to save than those without a plan. Ofemployed surveyed workers, 73 percent report having access to aworkplace plan.

Asked if the numbers support the need for state-administeredplans as way of expanding access to workplace savings option,Principal’s Vandermillion stopped short of a full endorsement.

“At the end of the day, we are all for making broader coverageavailable,” said Vandermillion. “Whether it’s an IRA or anemployer-sponsored plan, having a savings option puts workers in abetter position to save for retirement.”

Only 24 percent of workers and 39 percent of retirees said theywork with an investment professional.

The majority of those that do seek help strongly or somewhatagree they are getting advice that is in their best interest (74percent of workers say as much, and 70 percent of retirees).

Lisa Greenwald, vice president of Greenwald and Associates, anda co-author of EBRI’s 2017 survey, says the numbers suggest thatsavers are confident they are getting advice that serves their bestinterests.

“Once people commit to working with an advisor they tend totrust them,” said Greenwald. “Savers mostly believe the advice theyare getting from advisors is in their best interest.”

The data reflecting investors’ confidence that their bestinterests are being served was unsurprising toVandermillion.

“I think it’s unlikely that most people understand thedifference between a suitability standard of care and the bestinterest standard,” said Vandermillion. “What the numbers tell meis the vast majority of people think advisors should be doing whatis best for investors.”

Ultimately, savers need to understand why they hire advisors,how advisors are paid, and how success is measured, thinksVandermillion.

“People naturally want advisors to work in their best interest,but there are different ways to get to that. You can deliver thosesolutions in a commission-based model or a fee-based model,” headded, referencing the fee-based compensation model favored underLabor’s fiduciary rule.