NOTES: *Participation in a retirement savings plan through work or union. **Each balance tabulated refers to total balance held in all retirement savings accounts owned by a worker aged 55-64, including Keogh/IRA/401(k) accounts." Participation estimated from CPS March 2013 data for U.S. workers. Participation in a retirement plan at work requires the employer to offer a retirement plan to their workers and for workers to choose to participate in such a plan when it is offered. Data on balances estimated from SIPP 2008 panel, waves 10-11 and is only available for the twenty largest states.
NOTES: Income data for individuals 65 and over tabulated using the 2012 ACS.
NOTES: Current poverty rates were tabulated using the 2012 ACS for those 65 and over that are at or below 100% of the Federal Poverty Level. Projected poverty rates were estimated assuming that earnings and assets grow at 3% per year until retirement at age 65. Inflation is assumed to grow at 3% per year. Poverty thresholds are adjusted for inflation and equal to or less than 100% of the Federal Poverty Level. Social Security bend points are adjusted at a 2.5% rate per year. The annuity value of assets are estimated using the Fidelity Guaranteed income estimator for a single person with no beneficiaries who is age 65 on 6/1/14 and begins receiving an annuity on 6/21/14.