The paltry level of retirement savings may also help explain rising poverty among older Americans. The share of seniors living in poverty climbed to 15% in 2024, up from 14% a year earlier and the highest rate among all age groups, Census data shows.
I hadn't heard of this NIRS think tank but their vision on their About Us page is may be revealing:
Our vision is one of a retirement system that simultaneously meets the needs of employers, employees, and the public interest.
Employers listed first.
What’s missing, probably intentionally, is this statistic.
Another commenter noted that the median retirement plan savings is $955 if all workers are included is inconsistent with the common statistic that half of Americans don’t have $500 for an emergency.