Most Employees Unprepared For Retirement [Infographic]

David Schepp
employees not prepared for retirement
employees not prepared for retirement

While workers prize their employer-sponsored retirement plans, few feel that they're prepared to retire. Changes to traditional pensions, known as defined-benefit plans, is one reason U.S. workers worry about they're ability to retire, according the latest "What's Working Survey" from the consulting firm, Mercer.

During the recent recession many employers froze their traditional pension plans, waiting for the economic gloom to subside. Others long ago traded in traditional pension schemes instead for 401(k) or similar plans, also known as defined-contribution plans, which rely heavily on stock-market gains to pad employee savings.