This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

BlackRock Releases National Retirement Survey

“The benefits of participation in a DC plan – especially, the reinforcement of effective planning – clearly build over time,” Castille said. “We need to get employees into the DC system as early as possible, and do whatever helps to sustain their active engagement and build their retirement confidence with a program throughout their working years.”

Going forward, workers have big expectations for their DC plan: 48 percent expect their plan to be their number one source of monthly retirement income, compared with just 17 percent who expect a pension plan to fill that role.

Younger workers have even stronger expectations: about two thirds (63 percent) of workers age 25 to 34 expect their workplace savings plan to fill this primary income generating role, compared with just 32 percent of workers age 55 to 59.

Can Employment Help Fill the Income Gap?

For current retirees, employment income covers on average 5.24 percent of monthly expenses. Employment income, however, is relatively more critical for the youngest, “Baby Boomer” era retirees, those age 66 or younger - covering nearly 8 percent of monthly expenses – than it is for older retirees - covering nearly 3 percent of expenses.

Among current retirees, just 1 percent say they are working either full or part time because they “need to;” however, 15 percent of current workers anticipate having to do so.

“Though some future retirees are looking to employment to fill at least part of their income gap, it’s clear that workers really expect DC plans to address this need,” Castille said. “Plan sponsors should urgently consider what’s needed in terms of enhanced plan design and focused employee communication to deliver against this growing expectation.”

Call to Employers to Play an “Activist” Role

Workers and retirees generally agree – but retirees agree even more strongly – that employers sponsoring DC plans need to assume key responsibilities for workers’ retirement preparation, particularly regarding the delivery of secure retirement income.

5 of 8

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $94.02 -1.20%
FB $117.66 0.20%
GOOG $696.67 0.62%
TSLA $222.31 -4.30%
YHOO $35.97 -0.11%


Chart of I:DJI
DOW 17,646.54 -104.37 -0.59%
S&P 500 2,049.42 -13.95 -0.68%
NASDAQ 4,722.6130 -40.6110 -0.85%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs