Peter Brady

1 month ago | ici.org | Peter Brady |Steven Bass

Employer plans and individual retirement accounts (IRAs) are an important source of income for all but the lowest-income retirees. Either directly or through a spouse, more than 70 percent of Americans over age 70 receive income from retirement plans. That share increases rapidly with income, however, to nearly 90 percent for those outside the bottom quartile of the income distribution.

Nov 1, 2024 | ici.org | Peter Brady

More American retirees get income from retirement plans today than ever before. In combination with Social Security benefits, this income helps most maintain their standard of living as they transition into retirement. These facts may come as a surprise to many given the steady stream of headlines about a looming retirement crisis and widespread concerns about the shift from defined benefit (DB) plans to defined contribution (DC) plans in the private sector.

Jul 26, 2023 | ici.org | Peter Brady |Steven Bass

The US Retirement System Is Working Critics of the current retirement system often claim that Americans have insufficient income in retirement and that the system’s voluntary component is failing, leaving retirees too reliant on Social Security.1 While these assertions are used to justify proposals to overhaul employer plans and individual retirement accounts (IRAs), they aren’t supported by data.2 Spendable Income Holds Up in Retirement In a new study looking at Americans’ income from age 55...