Are New Yorkers Ready for Retirement?
Authors: Joelle Saad-Lessler, Teresa Ghilarducci, and Lauren Schmitz
Date: January, 2012
This report, published by New York City Comptroller John C. Liu, reveals that a growing number of New Yorkers don't have enough money to retire. Over one-third of older residents are expected to either subsist on Social Security, or not be able to retire at all. The report found that employers have become less willing or able to sponsor pensions – a trend that is true across most industries and occupations, and affects New Yorkers of nearly all ages and income groups. The brewing retirement crisis cuts across racial, ethnic and gender lines.