Retirement

Two-thirds of Americans aren't using this easy way to save for retirement

Two-thirds of Americans aren't using this easy way to save for retirement

Less than one-third of Americans are saving money in their 401(k)s and other workplace retirement accounts, according to an analysis of tax records by Census Bureau researchers.

Although nearly 80% of Americans work for an employer that offers a retirement program — whether a 401(k), 403(b) or something else — only 32% of workers sign up for such accounts, according to a working draft of the study by Michael Gideon and Joshua Mitchell. The researchers studied W-2 tax forms from 2012 from 155 million American workers, and their findings help shed light on just how ill-prepared many Americans are for the future.

"Not saving enough is a long-held American...

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