Retirement Readiness in North Carolina

December 1, 2012

This study utilizes data from the Current Population Survey (CPS) to compute sponsorship trends in North Carolina.

The decrease in sponsorship rates, coupled with low rates of participation in retirement accounts and inadequate accumulated savings to sustain one’s living standards in retirement are cause for concern. The numbers in this report indicate that 47% of North Carolina workers nearing retirement will be poor or near poor if they retire at age 65. Sixty-three percent of workers aged 55-64 without any workplace retirement plan are projected to be poor or near poor, compared to 27% of workers who have a retirement plan and are actively participating.

Authors: Teresa Ghilarducci, Joelle Saad-Lessler and Lauren Schmitz
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