A growing share of Americans are worried about retirement, with over three-quarters (79%) saying there's a retirement crisis, up from 67% in 2020, according to a recent report from the National Institute on Retirement Security.

Over half (55%𝓰) of respondents said they are concerned about their financial security after retirement, and 73% said inflation has made them even more worried.

With many Americans anxious about their ability to afford a comfortable retirement, 87% said Congress should act now to shore up 澳洲幸运5官方开奖结果体彩网:Social Security fundin♎g, and 90% said it should be a priority for the next p🅘resident and Congress.

Social Security's cash reserves are 澳洲幸运5官方开奖结果体彩网:proje♕cted to run out within the next decade and 🌺benefits could be reduced by more than 20% unless Congress enacts a legislative fix.

Pensions Could Help Boost Self-Reliance, Butꦕ Few H💮ave Them

Over three-quarters (77%) of workers said they believe the disappearance of pensions makes it more difficult for workers to achieve the 澳洲幸运5官方开奖结果体彩网:American Dream, and 83% said they thought all workers should have pensions in order to be independent in retirement.

While 澳洲幸运5官方开奖结果体彩网:defined-benefit retirement plans like pensions that are funded by employers and provide retired employees with a monthly income were once widespread, they've 澳洲幸运5官方开奖结果体彩网:largely been overtaken by defined-contributions plans like 401(k)s as the most common type of employer-sponsoℱred retireme🥂nt plan in private industries.

However, an estimated 56 million workers don't have any kind of employer-sponsored retirement plan, according to a report from The Pew Charitable Trusts. The report also found that those who lacked access to retirement savings plཧans tended not to save 🍸as much.

Pew noted that a shortfall in retirement savings could also affect taxpayers by potentially leading to $1.3 trillion in added federal and state pu👍blic as𓆉sistance costs over the next 20 years.