"The U.S. scores well on integrity but consistently lags on adequacy and sustainability, exactly where reform could have the most immediate impact."
"Without reform, more Americans risk reaching retirement without enough income - or the tools to access what they've saved."
"Saving is only half the challenge. The harder problem is converting a 401(k) balance into reliable income that doesn't run out."
Millions of Americans lack sufficient retirement savings, with many unaware of how to begin. Recent legislation has improved automatic enrollment in 401(k) plans, yet challenges remain. Workers often accumulate multiple small accounts and face uncertainty about their retirement income. The U.S. retirement system, while strong in integrity, falls short in adequacy and sustainability compared to other countries like Australia. Reform is necessary to convert savings into lasting income and to address gaps in coverage and longevity protection.
Read at Fortune
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