About one quarter of private sector retirees got some private pension income. Many did not choose to save, and most did not plan. Now, more are focused on the need to save. This question becomes more important each year, as fewer and fewer retiring Americans get regular streams of income from their former employers, and more and more of them depend on retirement plans that allow and require them to make their own investment and distribution decisions. We are working to change that.
Savings is a choice.
Planning to save is a choice. The need for those changing jobs and taking a lump sum distribution to roll it over if they want to someday retire instead of working forever. The fact that 25 percent of individuals in the United States never make it to retirement-they don't live to see age 65 and need to have planned for their survivors. The basics of saving and investing, including the simple notions of starting early and compound interest. The most readily acknowledged issue is how much one needs to save to have a certain amount by retirement.