Personal Liberty Digest™ will be upgraded this weekend to reflect a dynamic new look and mobile-friendly viewing to enhance your experience! Plus, we'll be providing even more of the compelling content you've come to expect, delivered in a whole new way!

  Comments Subscribe to Personal Liberty News Feed Subscribe to Personal Liberty
 

Study: Retirement accounts down 15 percent

August 5, 2009 by  

Retirement accounts down 15 percent, study says A new report from the Employee Benefit Research Institute (EBRI) has found that the median asset levels in retirement accounts dropped at least 15 percent since the end of 2007 as a result of the economic downturn.

The report looked specifically at defined contribution (401(k)) and IRA/Keogh accounts and found that among those with a defined contribution plan the median plan balance was $31,800 in 2007, but fell to $26,578 from year-end 2007 to mid-June 2009.

At the same time, for those with an IRA/Keogh plan, the median value of their plan was $34,000 in 2007, and fell to $28,955 in the same period.

"Americans have a great deal of work to do after the tremendous loss of wealth in 2008 to ensure financial security in retirement," Craig Copeland, EBRI senior research associate wrote in the August 2009 EBRI Issue Brief, no. 333.

"However, some optimism is warranted, as most individuals continue to contribute to their individual account plans and are in a position to accumulate added wealth as the economy recovers," he added.

The study is based on the 2007 Survey of Consumer Finances, the Federal Reserve Board’s triennial survey of wealth, and was adjusted to account for the recession in 2008.
ADNFCR-1961-ID-19299189-ADNFCR

Personal Liberty News Desk

Facebook Conversations

Join the Discussion:
View Comments to “Study: Retirement accounts down 15 percent”

Comment Policy: We encourage an open discussion with a wide range of viewpoints, even extreme ones, but we will not tolerate racism, profanity or slanderous comments toward the author(s) or comment participants. Make your case passionately, but civilly. Please don't stoop to name calling. We use filters for spam protection. If your comment does not appear, it is likely because it violates the above policy or contains links or language typical of spam. We reserve the right to remove comments at our discretion.

Is there news related to personal liberty happening in your area? Contact us at newstips@personalliberty.com

Bottom
close[X]

Sign Up For Personal Liberty Digest™!

PL Badge

Welcome to PersonalLiberty.com,
America's #1 Source for Libertarian News!

To join our group of freedom-loving individuals and to get alerts as well as late-breaking conservative news from Personal Liberty Digest™...

Privacy PolicyYou can opt out at any time. We protect your information like a mother hen. We will not sell or rent your email address to anyone for any reason.