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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
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
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 |