The Impact of Deferring Retirement Age on Retirement Income Adequacy

A new study by EBRI finds that if Baby Boomers and Gen Xers delay their retirement past the age of 65, many of them still would not have adequate income to cover their basic retirement expenses and uninsured health care costs.

The research also shows that even if a worker delays his or her retirement age into their 80s, there is still a chance the household will be “at risk” of running short of money in retirement. However, the chance of success for retirement adequacy improves significantly as individuals reach their late 70s and early 80s.

The press release is online here.

The full report, in the June 2011 EBRI Issue Brief, is online here.

A list of Frequently Asked Questions (FAQs) is online here.

News coverage:

Plan Adviser

US News & World Report

MarketWatch, Robert Powell

MarketWatch, Kurt Brouwer

Employee Benefit Advisor

New York Times, Jeffrey Sonnenfeld

Consumer Affairs, Mark Huffman