About 13% of all workers expect Social Security to represent their largest source of income in retirement, according to the EBRI 2002 Retirement Confidence Survey. About 16% of the boomer segment (ages 40 to 59 in the study), said they expect to rely on Social Security compared with 7% of younger workers, aged between 20 and 39.
The collapse of Enron Corp. has made company stock a suddenly controversial investment option in 401(k) plans. Enron is not the only employer with lots of company stock in its retirement plan, though.
The chasm between expectations, reality is wider than you think
You've built the perfect plan. Then you wake up-and get moving
DB-DC plans do a better DC job than DC-only counterparts
Some boomer Web sites worth checking out.
Participants seem inclined to sue about an inability to make choices
The best retirement plan communications programs do all of the following:
Sponsors are asking whether they communicate well with workers
Can sponsors get themselves unglued from the Enron mess?
Is ERISA due for an overhaul?
Despite determined behind-the-scenes negotiations between the Bush Administration and Senate Democrats at the start of this year, Beltway insiders say the Patient's Bill of Rights has little chance of passing Congress and getting signed into law in 2002. Moviegoers may have been absorbed by the recent Denzel Washington film John Q and its scathing if exaggerated attack on the health-insurance industry, but Washington's attention has been on other matters, principally the Enron meltdown and its implication for the security of working Americans' retirement savings plans.
Will Washington do aging boomers any good or obscure problems?
How Bill Jones became an angry man in retirement.
An attorney on how to avoid becoming a target yourself
A panel discussion about boomer expectations.