Retirement Trends

Assuming that Social Security benefits are not reduced, EBRI found that between 83 and 86 percent of workers with more than 30 years of eligibility in a voluntary enrollment 401(k) plan should have enough to replace at least 60 percent of the wages they were making at age 64.

A 2014 study showed that this community faced additional barriers to saving for their own futures because of the complexity of Social Security, a lack of access to work-based retirement plans and limited contact from financial advisors.

Investment returns of 13.8 percent, raising the discount rate used to determine future liabilities, a company contribution of $201.9 million to the system and a four-year strategy of matching investments to liabilities all contributed to eliminating the deficit.

Some in a study were shown age-enhanced photos of themselves while others did not see such images. Those that looked at their old age squarely in the face put an average of 6.8 percent of their salary in their 401(k)s. Those that didnt deferred 5.2 percent.

The money would be in addition to $330 million that nine foundations pledged through bankruptcy-court mediation to reduce city pension cuts and to shield Detroits art collection from a sale to pay $11.5 billion in unsecured debt.

One-third of investors said they thought their children would be worse off they would be, 40 percent about the same and 30 percent better.