12/16/2013 – Employment-Based Retirement Plan Participation: Geographic Differences and Trends, 2012 (EBRI)

The financing of retirement has become a vital topic in the United States as more and more Baby Boomers rapidly approach the traditional retirement age of 65. This group, with birth years 1946–1964 (ages 49-67), currently totals just over 75 million people and will greatly change the demographics of the nation as it continues to age. The resulting sharp rise in the percentage of the elderly population from this generation will make it much more expensive to support programs such as Medicare and Social Security, which are designed to partially shield the elderly from the worst financial effects of old age (deteriorating health and loss of income). As a result, some changes in these programs are likely to occur that could result in an increase in the benefit-eligibility age, higher taxes, or reductions in benefits for all
or certain categories of retirees (such as higher-income individuals).
Read the full report at EBRI.