Credit: hvostik16/Adobe Stock

A new report suggests that members of Generation X are facing a “nightmare” savings picture as they grow closer to retirement age.

The report, “The Forgotten Generation: Generation X Approaches Retirement,” from the National Institute on Retirement Security focuses on individuals born between 1965 and 1980, noting that those in Gen X represent the first generation to enter the labor market following a broad shift from defined benefit pension plans to defined contribution accounts. As of December 2020, Gen X represented about 64 million Americans, almost 20% of the population, according to the report. Among the report’s key findings was that the median retirement savings for a Gen X household is just $40,000.

Complete your profile to continue reading and get FREE access to, part of your ALM digital membership.

Your access to unlimited content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and events.
  • Access to other award-winning ALM websites including and

Already have an account?


© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.


Join BenefitsPRO

Don’t miss crucial news and insights you need to navigate the shifting employee benefits industry. Join now!

  • Unlimited access to - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including and
  • Exclusive discounts on and ALM events.

Already have an account? Sign In Now
Join BenefitsPRO

Copyright © 2023 ALM Global, LLC. All Rights Reserved.