Employee Benefit Research Institute Publishes Retirement Confidence Survey

The Employee Benefit Research Institute recently published its 2010 Retirement Confidence Survey.

The report concludes that historically low levels of confidence have stabilized but the amounts of retirement savings and overall preparation continue to decline.

Among the reports findings are the following:

• The percentage of workers who are very confident about having adequate money for retirement is 16 percent.
• This represents an increase from 2009 historic lows of 13 percent.
• Only 69 percent of workers indicate that they have saved at all for retirement.
• 27 percent report that they have retirement savings of less than $1,000.
• 54 percent report that their investment and other savings (excluding equity in the primary residence) total less than $25,000.
• Many Americans expect to work longer.
• Many Americans lack confidence in financial institutions.

Source: Employee Benefit Research Institute

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