WASHINGTON, April 2 (UPI) -- A Washington research center said its survey indicates more than a quarter of U.S. workers have less than $1,000 saved for their retirement.
The Employee Benefit Research Institute said its survey suggests workers are unprepared for retirement, with 27 percent having less than $1,000 saved and the same percentage saving between $1,000 and $24,999, the Chicago Tribune reported Friday.
Twenty-three percent of respondents said they had saved between $25,000 and $99,999 and only 11 percent said they had more than $250,000 put away for their golden years.
However, the institute said less than half of respondents said they were concerned about their retirement funds.
About three quarters of respondents said they were very or somewhat confident about their ability to pay for basic expenses during retirement and two thirds said they were confident in their preparation for post-career life.
