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The Adequacy of Household Saving

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DURING THE PAST half century, retirement income security in the United States has been based on a combination of social security, employer sponsored pensions, and households’ own saving. Social security was intended to provide a retirement income base. Pensions generated additional retirement income. Households’ own saving supplemented these sources. In many ways this combination has served retirees well, but recent and impending developments have raised concerns about the adequacy of households’ preparations for retirement.

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