Auto-enrollment with an opt-out feature is extraordinarily effective, as well as matching HSA contributions, for the 32% of working-age Americans with no retirement account, says a new survey.
By Kristen Beckman | February 16, 2023 at 11:22 AM
(Image: Shutterstock)
Thirty-two percent of working-age Americans – about 58 million people – have no retirement savings, according to a recent analysis by The Penny Hoarder. Younger workers had the lowest savings rate, with nearly half of working-age adults in their 20s having no savings.
The Penny Hoarder's analysis is based on data from the Federal Reserve's Survey of Household Economics and Decisionmaking and counts retirement savings as a pension, employer-sponsored defined contribution plan, an IRA, or another type of retirement savings account.
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