• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
Kentucky Center for Economic Policy

Kentucky Center for Economic Policy

      

  • About Us
  • Press Room
  • Donate
  • UnlockKY

Research That Works for Kentucky

  • Topics
    • Budget & Tax
    • Criminal Justice
    • Economic Security
    • Education
    • Health Care
    • Jobs & The Economy
  • Types
    • News
    • Op-Ed
    • Research

      

  • About Us
  • Press Room
  • Donate
  • UnlockKY

Copyright © 2023 KyPolicy Privacy Policy Terms & Conditions Sitemap

Report

New Retirement Plan for Private Sector Workers Would Strengthen Economic Security in Kentucky

Ashley Spalding | August 10, 2016

When it comes to a secure retirement many Kentuckians are in danger in part because they lack access to a retirement account at work that can help them save, new research by the Kentucky Center for Economic Policy shows.

The population is aging in Kentucky and across the country as the baby boomers reach retirement age, with the share of Kentuckians over the age of 65 expected to grow from 15 percent today to 20 percent by 2030. Yet too many in the state are deeply underprepared for financial security in retirement. The growing elimination of more secure defined benefit plans in the private (and more recently the public) sector has worsened the problem, and the current level of Social Security benefits is not adequate for a decent standard of living. The average defined contribution account (such as a 401(k)) balance for current workers in Kentucky was only $32,499 in 2012, and many workers have jobs where no type of plan is offered at all. More must be done at all levels of government to promote a more secure retirement for the sake of retirees and the economy as a whole.

More On Economic Security: Tracking SNAP in Kentucky

To read the report in PDF form, click here.

Print Friendly, PDF & Email

FacebookTweetLinkedInEmail

Primary Sidebar

Get KyPolicy news updates in your inbox

Sign Up

Sidebar

Perspectives

The Legislature’s Transportation Budget Cuts Contributed to the JCPS Bus Debacle

Workers at Kentucky’s Largest Employer Could Soon Be On Strike. Here’s What It Means

A Child Care Apocalypse Is Coming

Don’t Hold Our Best Tool for Fighting Hunger as a Political Hostage

The School Year Will Soon End, but a New Strategy to Dismantle Public Education Is Just Beginning

Other Economic Security Items

Report

Tracking SNAP in Kentucky

debt deal snap work requirements

Report

13,000 Older Kentuckians Face Increased Hunger After SNAP Changes in Debt Deal

Kentucky workers deserve a raise

Report

More Than 17,000 Kentuckians Could Lose Food Aid With Return of SNAP Work Reporting Requirements

Ky. Policy

Footer

Research that works for Kentucky

433 Chestnut Street, Berea, KY 40403

859-756-4605

General information and inquiries: info@kypolicy.org

     

Help us make the facts free and accessible to everyone. That’s how Kentucky will thrive.

Donate

  • Topics
    • Budget & Tax
    • Criminal Justice
    • Economic Security
    • Education
    • Health Care
    • Jobs & The Economy
  • Work
    • News
    • Op-Ed
    • Research
  • About Us
  • Press Room
  • Contact

Get KyPolicy news updates in your inbox

Sign Up

Copyright © 2023 KyPolicy Privacy Policy Terms & Conditions Sitemap

made by P&P
Share this ArticleLike this article? Email it to a friend!

Email sent!