Sources of retirement income
May 23, 2001
The traditional ideal of retirement income is the three-legged stool of Social Security, employer-provided retirement plan, and personal savings.
This ideal is not widely achieved, in part because employer-provided plans are not universal and in part because many retirees have little or no income from savings. In fact, earnings from work were slightly higher than income from assets or employer benefits in 1998.
Social Security was the largest source of retirement income, accounting for 37.6 percent of income in 1998 for those aged 65 and older, on average. Earnings accounted for 20.7 percent, income from assets 19.9 percent, and employer benefits 18.7 percent.
Read more about retirement issues in "Changing retirement age: ups and downs," by William J. Wiatrowski, Monthly Labor Review, April 2001. The income data for that Monthly Labor Review article were obtained from the Social Security Administration.
Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, Sources of retirement income on the Internet at http://www.bls.gov/opub/ted/2001/may/wk3/art03.htm (visited August 26, 2016).
Recent editions of Spotlight on Statistics
A look at healthcare spending, employment, pay, benefits, and prices
As one of the largest U.S. industries, healthcare is steadily growing to meet the needs of an increasing population with an increasing life expectancy. This Spotlight looks at how much people spend on healthcare, current and projected employment in the industry, employer-provided healthcare benefits, healthcare prices, and pay for workers in healthcare occupations.
Employment and Wages in Healthcare Occupations
Healthcare occupations are a significant percentage of U.S. employment. Some of the largest and highest paying occupations are in healthcare. This Spotlight examines employment and wages for healthcare occupations.
Fifty years of looking at changes in peoples lives
Longitudinal surveys help us understand long-term changes, such as how events that happened when a person was in high school affect labor market success as an adult.