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9 things you should know about the US retirement crisis

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7. Pensions are a thing of the past for most non-governmental employees

Unless you work for the government, the days of receiving a monthly pension check after retirement are gone. In 1975, about 88% of private sector workers with a retirement plan in the workplace had pension coverage, according to a report on the opinions of Americans about the retirement crisis by the National Retirement Institute (NIRS ). (12)

In 2006, there were about 29,000 private sector pensions, but that number dropped to 22,000 in 2014, according to the NIRS report. For 2016, only 15% of private sector workers participated in a traditional pension plan, according to the US Department of Labor. UU. (13)

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