US. Why Pensions Still Provide Key Income for Many Retirees Even as Access Declines
Traditional pensions, where employers guarantee their workers a fixed monthly paycheck for life in retirement based on their salary and years of service, are widely considered a thing of the past. But the reality is more complicated. While these highly sought-after defined benefit (DB) plans are no longer an option for most of today's workers, for retirees, they remain a common source of income. Pensions Are Much Less Common for Workers Today Only 29% of American workers have an employer-sponsored DB pension,...
