Are We Saving Enough? Households and Retirement

In part because there are so many baby boomers rel- ative to the overall population, Social Security payments to retirees are projected to exceed payroll tax revenues in less than 10 years. [...]beyond the sustainability of national consumption, pop- ulation aging threatens the sustainability of the nation.s entitlement programs. Employees also are adjusting to the predominance of a rel- atively new form of retirement saving. de.ned-contribution pensions, most commonly in the form of employer-sponsored 401(k) plans, in which workers are the main suppliers to their retirement plans.