(Photo: Shutterstock)

Even before the COVID-19 pandemic, many retirement-age Americans were concerned about not having enough saved to actually be able to retire. But due to the COVID-19 pandemic, people with retirement on the horizon are not the only ones worried.

Although all the long-term implications of the coronavirus pandemic and recession on retirement security have yet to be fully realized, the financial vulnerabilities among workers across all generations are becoming clear, says a recent study. But it also found that employers can significantly help their employees, no matter how close or far they are to retirement, prepare and meet certain savings goals.

The results from the study, "Amid COVID-19: The Outlook of Three Generations," which examined the retirement outlook of millennials, Generation X, and baby boomers, came out of the findings of the 20th Annual Transamerica Retirement Survey. This survey polled 5,277 U.S. residents over the age of 18 working full or part-time for a for-profit company from Nov. 6 to Dec. 27, 2019. A supplemental online survey was then conducted from April 16-20, 2020 of 2,030 U.S. adults who were laid off or furloughed as a result of the coronavirus pandemic.