Fewer Employer Retirement Benefits Lead to High Retirement Insecurity in California

HealtyCalA new report by the UC Berkeley Center for Labor Research and Education, which includes an article by SCEPA's Teresa Ghilarducci, shows that Californians have less access to employer-sponsored retirement benefits than the rest of the nation, leaving a significant number of today's workers at risk for serious economic hardship in retirement. Much of the problem is that retirees don't have access to traditional pension plans and don't have enough savings for retirement, leaving many retirees to depend solely on Social Security in their golden years. As Ghilarducci notes in the article, titled "Fewer Employer Retirement Benefits Lead to High Retirement Insecurity in California," by Callie Shanafelt, "If something isn't done we'll have the biggest downward mobility since great depression."

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