The Future isn’t so Golden for California’s Next Wave of Retirees
According to a new data brief by Nari Rhee, director of the Retirement Security Program at the University of California, Berkeley’s Center for Labor Research and Education (Labor Center), about half of California private sector employees ages 25 to 64 don’t have dedicated retirement assets. The brief provides a first-ever look at retirement assets — and the lack thereof — among private sector employees and working-age families in the state.
She explains that the problem is not that individuals lack discipline, but that employee access to a workplace retirement plan, much less a traditional pension, has declined.
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