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Retirement Readiness in North Carolina

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Abstract

This study utilizes data from the Current Population Survey (CPS) to compute sponsorship trends in North Carolina. The decrease in sponsorship rates, coupled with low rates of participation in retirement accounts and inadequate accumulated savings to sustain one's living standards in retirement are cause for concern. The numbers in this report indicate that 47% of North Carolina workers nearing retirement will be poor or near poor if they retire at age 65. Sixty-three percent of workers aged 55-64 without any workplace retirement plan are projected to be poor or near poor, compared to 27% of workers who have a retirement plan and are actively participating.

Suggested Citation

  • Teresa Ghilarducci & Joelle Saad-Lessler & Lauren Schmitz, 2012. "Retirement Readiness in North Carolina," SCEPA publication series. 2012-05, Schwartz Center for Economic Policy Analysis (SCEPA), The New School.
    • Handle: RePEc:epa:cepapb:2012-05
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    File URL: https://www.economicpolicyresearch.org/images/docs/research/retirement_security/NCarolina%20Retirement%20readiness.pdf
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    More about this item

    Keywords

    Retirement; Social Security; North Carolina;
    All these keywords.

    JEL classification:

    • J26 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Retirement; Retirement Policies
    • H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
    • E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth

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