Ensuring Retirement Security in the U.S.: The Role of Pensions
In honor of National Retirement Security Month, we take a closer look at the state of retirement security in the U.S. and how organizations like the National Conference on Public Employee Retirement Systems (NCPERS) work to promote and protect pensions.
By: Andy Muthoni, NCPERS
Retirement security has become an increasingly important issue in the United States as the population ages and economic uncertainties persist. While the country grapples with the challenges of providing a comfortable retirement for its citizens, pensions play a crucial role in supporting retirement security. In honor of National Retirement Security Month, we take a closer look at the state of retirement security in the U.S. and how organizations like the National Conference on Public Employee Retirement Systems (NCPERS) work to promote and protect pensions.
The State of Retirement Security in the U.S.
The state of retirement security in the United States is a topic of concern for many, and for good reason. According to data from the National Institute on Retirement Security (NIRS), the average Generation X household has only $40,000 in retirement savings, with large discrepancies across gender, race, and income. When looking at the median, the bottom quartile has only $200 saved for retirement. Social Security alone often isn't sufficient to maintain a comfortable standard of living in retirement.
NCPERS: Advocating for Retirement Security
The vast majority of Americans are worried about their financial security in retirement, and public pensions play a critical role in reducing retiree poverty across race, sex, and educational attainment, according to recent research from NIRS and the UC Berkeley Labor Center.
As the largest trade association for public pensions, NCPERS plays a significant role in advocating for retirement security in the U.S. We're a non-profit network of trustees, administrators, officials, and investment professionals who collectively oversee $4 trillion in retirement funds managed on behalf of 7 million retirees and 15 million active public servants. With a mission to promote and protect pensions, NCPERS works tirelessly to ensure that these public servants, including firefighters, teachers, and law enforcement officers, receive the retirement benefits they deserve.
National Retirement Security Month
Throughout National Retirement Security Month, NCPERS will be sharing valuable resources and information to raise awareness about the importance of retirement security. We encourage everyone to participate in the following ways:
- Share Resources: Send your retirement security-related resources and updates to firstname.lastname@example.org, and NCPERS will help spread the word.
- Sign up: Sign up for NCPERS Retirement Security SmartBrief to receive weekly updates on issues that impact our financial wellbeing in retirement. Subscribe for free.
- Use Social Media: Follow and use the hashtags #nationalretirementsecuritymonth and #publicpensions on social media platforms to join the conversation and amplify the message of retirement security.
- Tag NCPERS: When sharing posts and resources on social media, be sure to tag NCPERS to ensure that they see your contributions and can share them with their extensive network.
- LinkedIn: @National Conference on Public Employee Retirement Systems
- Facebook: @NCPERS
- Twitter: @NCPERS
- Share Your Story: Tell NCPERS what retirement security means to you. Your personal experiences and insights can help shed light on the importance of pensions and retirement security, and we encourage you to share via social media or to reach out to email@example.com.