The percentage of households headed by someone aged 55 and older with no individual retirement savings fell over a three-year period that ended in 2016, but still hovered around 50%, according to an estimate from the Government Accountability Office released Tuesday.
In 2016, 48% of those households had no retirement savings in a defined contribution plan or an IRA, down from 52% in 2013, the GAO estimate found, which is an update to its 2015 report on retirement security based on the Federal Reserve's Survey of Consumer Finances.
Also, 29% of those households had neither a pension plan nor any individual retirement savings in 2016, the same mark as 2013, the estimate showed.
One-fifth had a pension plan but no individual retirement savings in 2016, down from 23% in 2013; while 26% had retirement savings but no pension plan, compared with 23% in 2013.
Lastly, 26% had both a pension plan and individual retirement savings, up from 25% three years prior.
