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The Retirement Crisis Comes Home To Nevada

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It’s believed by some economists that Nevadans and many people across the country face a retirement crisis.

Social Security is fragile and we’re not saving enough for retirement.

Then there are others who dismiss any idea of retirement crisis.

So, who is right? And how has the shift from defined benefit pensions to 401-K plans impacted the majority of workers and their retirement savings?

Michael Hiltzik, is a business columnist with the Los Angeles Times, who explored that topic in a recent column titlted "How severe is the retirement crisis? These six charts spell it out."

Those charts were part of an Economic Policy Institute report on The State of American Retirement.

Both Hiltzik and the report's author Monique Morrissey agreed that the shift away from pensions to 401(k)s has failed the majority of American workers and disproportionaltely harmed disavantaged groups.

 

Michael Hiltzik, business columnist, The Los Angeles Times

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