A comprehensive analysis by the Stanford Center on Longevity found that 52 percent of Americans between 45 and 64 have less than 100,000 dollars saved for retirement, far short of what most financial advisors consider the minimum necessary for a comfortable retirement given current life expectancy and healthcare cost trajectories. The retirement savings gap is particularly acute for workers who spent careers in jobs without employer-sponsored plans.
Policy solutions under discussion include expanding Social Security benefits, creating auto-enrollment requirements for all employers above a certain size, and providing government-matched savings accounts for low and moderate-income workers. Congressional progress has been slow, however, as each proposed solution faces opposition from either business groups concerned about cost or fiscal hawks worried about program expansion.
