The three legs
The first leg: More retirees, fewer workers
Social Security Old Age and Survivors beneficiaries and workers per benefit recipient.
Source: 2005 Annual Report of the Board of Trustees of the Federal Old-Age and Survivors Insurance and Disability Insurance Trust Funds, Social Security Administration
The second leg: DC overtakes DB . . . Percent of workers rcovered by a retirement plan, by plan type.  2004 and 2005 figures are Vanguard estimates. Source: U.S. Department of Labor; Vanguard. | . . . but 401(k)s are not picking up the slack Average balance per 401(k) participant.  Source: U.S. Department of Labor, Cerulli Associates |
The third leg: personal savings at historic low
Personal saving as a percentage of disposable income.
Source: U.S. Department of Commerce Bureau of Ecomonic Analysis
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