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April 18, 2005 01:00 AM

The crisis by the numbers

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    The retirement crisis by the numbers

    Number of full-time U.S. workers (2004): 132 million

    Number of retirees (2004): 29.9 million

    Number of retirees (2000): 28.6 million

    Projected number of retirees receiving benefits (2015): 40.7 million

    Projected number of retirees and survivors receiving benefits (2015): 50.1 million

    Projected number of retirees receiving benefits (2040): 68.4 million

    Projected total receiving benefits, 2004 (includes survivors): 78.3 million




    Number of workers supporting each Social Security recipient (1950): 16.0

    Number of workers supporting each Social Security recipient (2004): 3.3

    Number of workers supporting each Social Security recipient (2040): 2.0


    Social Security trust fund assets (2004): $1.69 trillion

    Social Security liabilities (2004): $62.2 billion

    Social Security benefits as a % of GDP (2005): 4.3%

    Social Security benefits as a % of GDP (2070): 6.4%

    Medicare spending as % of GDP (2005): 2.6%

    Medicare spending as % of GDP (2070): 13.6%

    Percentage of private work force covered by retirement plans (1999): 50%

    Percentage of private work force covered by retirement plans (1980): 39%

    Number of corporate defined benefit plans (2003): 29,512

    Number of corporate defined benefit plans (1985): 112,208

    Number of multiemployer defined benefit plans (1999): 1,727

    Number of multiemployer defined benefit plans (1980): 2,332

    Number of active employees covered by DB plans (1999): 22,630,000

    Number of active employees covered by DB plans (1980): 30,100,000

    Percentage of private work force covered by DB plans:


    Assets of corporate DB plans (1999): $2.057 trillion

    Assets of corporate DB plans (1980): $401.4 billion

    Total under funding of corporate DB plans (2004): $450 billion

    Total under funding of corporate DB plans (2003): $350 billion

    Total under funding of multiemployer plans (2004): $150 billion

    Total under funding of multiemployer plans (2003): $100 billion





    Assets of corporate DC plans (2004): $3.8 trillion

    Assets of public employee

    DC plans (2004): $527 billion


    Number of 401(k) plans: 409,300

    Number of employees covered by 401(k) plans: 50.4 million


    Average 401(k) balance: $40,000

    Average 401(k) deferral rate: 6%

    Average corporate match (2004): 3%

    Number of public employee DB plans (2002): 2,670

    Assets of top 127 public employee DB plans: $2.09 trillion

    Liabilities of top 127 public employee DB plans: $2.35 trillion

    Unfunded liabilities of top 127 public employee DB plans: $260 billion

    Sources: U.S. Dept. of Labor Bureau of Labor Statistics; Social Security Administration

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