21st Annual Transamerica Retirement Survey of Workers
A Compendium of Findings About the Retirement Outlook of U.S. Workers
By Catherine Collinson, Patti Rowey, Heidi Cho
Transamerica Center for Retirement Studies
A Compendium of Findings About the Retirement Outlook of U.S. Workers (“Compendium”), a collaboration between nonprofit Transamerica Institute® and its Transamerica Center for Retirement Studies® (TCRS), explores the health, employment, and finances of workers amid the COVID-19 pandemic. It offers 35 key indicators of retirement readiness by employment status, work arrangements, urbanicity, household income, race/ethnicity, LGBTQ+, and caregiver status.
As part of the 21st Annual Transamerica Retirement Survey of Workers, the Compendium is based on a survey of employed workers conducted in late 2020. It is a follow-up report to Living in the COVID-19 Pandemic: The Health, Finances, and Retirement Prospects of Four Generations and Life in the COVID-19 Pandemic: Women’s Health, Finances, and Retirement Outlook.
The Compendium explores retirement readiness by employment status and offers comparisons of full-time and part-time workers. In general, full-time workers are more confident and engaged in saving and preparing for retirement than part-time workers. A structural contributing factor is full-time workers are more likely to be offered retirement benefits from their employers. Amid the pandemic, part-time workers are more likely to have experienced negative impacts to their employment which can be disruptive to their ability to save for retirement.
The information above appears on the Transamerica Center for Retirement Studies report. Click here to read the full report.
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