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NIRS Releases Report on Americans’ Views on Retirement Insecurity
On February 18, 2021, the National Institute on Retirement Security (NIRS) released its report, Retirement Insecurity 2021: Americans’ Views of Retirement. NIRS conducted the survey of working-age Americans on numerous retirement security issues related to the shifting retirement landscape.
The key findings include:
- The COVID-19 pandemic has increased the majority of Americans’ concerns about financial security in retirement;
- 67% of those that have changed or considered changing when they will retire reported that they plan to retire later than originally planned;
- 79% of Americans are highly supportive of Social Security and some support expanding the program; and
- 76% of Americans have favorable views about defined benefit pensions and 65% view pensions as being better than 401(k) savings accounts for providing retirement security.
The report is available here.