National Retirement Risk Index Showed Improvement
The National Retirement Risk Index showed modest improvement in 2016, according to a new report released by the Center for Retirement Research at Boston College. The National Retirement Risk Index shows the share of working age households who are ‘at risk’ of being unable to maintain their pre-retirement standard of living.
The study found between 2013 and 2016, the NRRI dropped 2 percent from 52 to 50. The report says the improvement shows the gradual rise in Social Security’s Full Retirement Age and low interest rates prevented “more substantial progress.”
Overall, the study says their findings show half of American households need to save more or work longer to ensure a secure retirement.