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Pensions 401k Traditional pensions social security Trust Regulatory News A.M. Publishing Garbo Americans Prefer Pensions to 401k, Survey Finds

(March 9, 2011 --Chicago, IL) -- American want traditional pensions, according to a new research report. Nearly 8 in 10 surveyed say that employees should have access to a pension option.

Americans favor traditional pensions because of their high anxiety about lower standards of living in their retirement years, according to the National Institute on Retirement Security’s “Pensions and Retirement Security 20111: A Roadmap for Policy Makers.”

Nearly 90 percent of those surveyed say they believe that the current retirement system is under stress. Survey respondents’ believe that pensions provide greater retirement security. Better than 80 percent say that those with pensions are more likely than those without to have a secure retirement. More than 75 percent believe that the “disappearance of pensions” has made it harder to achieve the American Dream.

Respondents’ fears are compounded by the current economy, in which most say they cannot save sufficient sums for retirement.

Survey respondents appear to blame Washington, not their employer, for the decline of pensions as a retirement option.

The survey was conducted of 800 Americans age 25 or older. The results are not broken out by age. For a copy of the report Click Here.

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