This paper provides estimates for savings needed to cover health insurance to supplement Medicare and out-of-pocket expenses for health care services in retirement. Medicare generally covers only about 60 percent of the cost of health care services (not including long-term care) for Medicare...

Most private-sector employers that automatically enroll their 401(k) participants do so at a default rate of 3 percent of pay, a level consistent with the starting rate set out in the Pension Protection Act of 2006, but a rate that many financial experts say is far too low to generate sufficient...

In recent years there have been a number of policy proposals that call into question the value of existing defined contribution plans. However, the suggested alternatives do not provide a detailed analysis of the impact of terminating defined contribution plans on retirement income adequacy for...

One of the major findings in each of the last five annual retirement income adequacy studies by EBRI was that the retirement income adequacy prospects for Gen Xers were approximately the same as for Baby Boomers. However, recent studies by other organizations suggest Gen Xers will fare much...

This paper provides new results showing how many years into retirement Baby Boomer and Gen Xer households are simulated to run short of money, by preretirement income quartile. It begins with a brief introduction of the various methods of quantifying retirement income adequacy, along with a...

This paper examines the amount of savings Medicare beneficiaries are projected to need to cover program deductibles, premiums and other health expenses in retirement. For the purposes of this study, health expenses include premiums for Medicare Parts B and D, premiums for Medigap Plan F, and...

This paper analyzes the potential of a generic auto-IRA proposal to increase the probability of a “successful” retirement and decrease retirement deficits. Results were provided for all age groups from ages 35-64, but the primary focus was on the youngest cohort (ages 35-39), as they would...

This paper helps answer one of the most important questions that many defined contribution participants face before retirement: How much do I need to save each year for a “successful” retirement? It begins with a brief description of EBRI's Retirement Security Projection Model,® followed by...

New research was prepared for this testimony to explore how the probability of a “successful” retirement varies with the percentage of the 401(k) balance that is used to purchase a deferred income annuity (DIA). Results are provided for all households (with a 401(k) balance) combined as well...