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A recent academic study claims that the economic impact of COVID-related job loss and market fluctuations have made retirement plans across the country more uncertain.
The study, conducted by the Center for Retirement Research at Boston College, uses a model researchers call the National Retirement Risk Index (NRRI) which measures a sample of working-age households at risk of being unable to afford their pre-retirement living standard.
According to researchers, the NRRI has increased from 50 percent, at pre-COVID-19 levels, to 55 percent, with low-income households being the hardest hit by a widening savings gap. The study noted that retirement security was already in a precarious position prior to the outbreak, which has only made things worse.
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P.J. D'Annunzio
Reporter at the Legal Intelligencer covering public corruption, federal courts, and breaking news.
