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Are New Yorkers Ready for Retirement?

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Abstract

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.

Suggested Citation

  • Teresa Ghilarducci & Joelle Saad-Lessler & Lauren Schmitz, 2012. "Are New Yorkers Ready for Retirement?," SCEPA publication series. 2012-01, Schwartz Center for Economic Policy Analysis (SCEPA), The New School.
    • Handle: RePEc:epa:cepapb:2012-01
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    File URL: https://www.economicpolicyresearch.org/images/docs/SCEPA_blog/guaranteeing_retirement_income/NYC_Retirement_Readiness.pdf
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    More about this item

    Keywords

    Retirement; Social Security; New York City;
    All these keywords.

    JEL classification:

    • J26 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Retirement; Retirement Policies
    • H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
    • E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth

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