Plan Advisor, July 30, 2009
Defined benefit pension income plays a critical role in reducing the risk of poverty and hardship among older Americans, according to a new study.
The study found rates of poverty among older households lacking pension income were about six times greater than those with such income. The analysis also found that pensions reduce – and in some cases eliminate – the greater risk of poverty and public assistance dependence that women and minority populations otherwise would face.
Read the full story here.