State:
Free Special Resources
Get Your FREE Special Report. Download Any One Of These FREE Special Resources, Instantly!
Featured Special Report
Claim Your Free Copy of Overtime Primer: Highlights from the New Regulations

The federal DOL overtime regulations go into effect this year. Are you ready?


Download Now!




This report includes a summary of key changes, including the salary level test and salary basis test.

As a bonus, we've included a handy flowchart to help you determine exemption status under the FLSA.

Download Now!
July 18, 2003
Social Security Provides Retirement Data

The Social Security Administration reminds everyone that while Social Security has provided a strong foundation of income for most retirees, it was never intended to be the sole source of income during a person's retirement years.

For a Limited Time receive a FREE Compensation Market Analysis Report! Find out how much you should be paying to attract and retain the best applicants and employees, with customized information for your industry, location, and job. Get Your Report Now!

The SAA notes the advice of most financial experts: that workers will need 70 to 80 percent of their pre-retirement income to finance comfortable retirements. Social Security retirement benefits can be expected to replace about 40 percent of the money an average wage earner makes, but that still means most people will need to provide for an additional 30 to 40 percent of pre-retirement earnings through pensions, 401(k) plans, IRAs, savings bonds and other investments.

To find out how today's retirees are financing their retirement, visit the SAA's "Income of the Aged Chartbook," at:

http://www.socialsecurity.gov/policy/docs/chartbooks/inc_aged/2001/index.html


To figure out your own retirement needs, the SAA provides online calculators at:

http://www.socialsecurity.gov/planners/calculators.htm

Featured Special Report:
Top 100 FLSA Overtime Q&As
   
   
 
 
Twitter  Facebook  Linked In
Follow Us
CT-WEB02
Copyright © 2016 Business & Legal Resources. All rights reserved. 800-727-5257
This document was published on http://Compensation.BLR.com
Document URL: http://compensation.blr.com/Compensation-news/Benefits-Leave/Social-Security-Medicare/Social-Security-Provides-Retirement-Data/