2012 Retirement Confidence Survey of the State and Local Government Workforce

Source: Joshua M. Franzel, Paul J. Yakoboski, Center for State and Local Government Excellence and the TIAA-CREF Institute, July 2012

From the summary:
his survey by the Center and the TIAA-CREF Institute finds that only 19 percent of full-time workers are very confident in their retirement income prospects, with many expressing concern about the impact of rising health care costs on current savings.

Key findings:
– Only 16 percent of teachers and 25 percent of police and firefighters are very confident they are saving the right amount for retirement.
– A full 57 percent of public sector workers expect to work longer than they would like
– 72 percent expect to work for pay after retiring.
– Only 22 percent are very confident that they will have enough money to take care of medical expenses during retirement.
– Two-thirds are not confident that Medicare will continue to provide benefits of equal value to those provided today.

See also:
press release

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