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Research finds state-local pensions below key retirement benchmark

Most households with individuals employed in state and local government can expect to receive at retirement well below the 80% of pre-retirement income needed to maintain their pre-retirement living standards, according to new research.

By Warren S. Hersch | Updated on October 21, 2011

Most households with individuals employed in state and local government can expect to receive at retirement well below the 80% of pre-retirement income needed to maintain their pre-retirement living standards, according to new research.

The Center for Retirement Research at Boston Col­lege published this finding in a November brief, “How Prepared Are State and Local Workers for Retirement.” The brief summarizes the results of a paper that uses a Health and Retirement Study and actuarial reports published by state and local pension systems to examine whether state and local workers have more than enough money for retirement.

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