No Difference in Savings among those in Phased Retirement

April 29, 2009 ( -Workers who expect to work during retirement and those who do not expect to are equally likely to save for retirement, according to data from the Employee Benefit Research Institute (EBRI).

Married workers and those who have tried to do a retirement savings needs calculation are more likely than their counterparts to have set money aside for retirement, EBRI said, based on data from its 2009 Retirement Confidence Survey.

According to the EBRI data, major drivers of retirement saving are a worker’s education and income levels (see Education Level Affects Retirement Plan Participation ).

Among those with a bachelor’s degree or higher, 92% of workers report they have saved for retirement, compared with 66% of those with a high school education or less.

As income increases, so does the likelihood of workers saving for retirement: 93% of workers in households with $75,000 or more in annual income report saving for retirement, compared with 49% in households with annual income of $35,000 or less.

align="center"> Workers Who Report Having Saved for Retirement, by Key Characteristics

align="center"> Percentage of All Workers Who Have Saved for Retirement


High school or less

align="center"> 66%

Some college

align="center"> 70

Bachelors degree or more

align="center"> 92

Household Income:

Less than $35,000

align="center"> 49

$35,000 - $74,999

align="center"> 80

$75,000 or more

align="center"> 93

Marital Status:


align="center"> 82

Not married

align="center"> 64

Done Household Needs Calculation:

Yes, have done calculation

align="center"> 88

No, have not

align="center"> 64

Expecting to Work During Retirement:

Yes, expect to work

align="center"> 75

No, do not expect to work

align="center"> 76