A private-sector worker would have to retire with a 401(k) balance of $768,940 to match the retirement income of an average career state government employee.
That is one of the key findings of a new study by Andrew Biggs, a pension and Social Security expert at the American Enterprise Institute, a free-market oriented think tank.
The study compared total retirement income for full-career state employees, including both pensions and Social Security income (where applicable) among the 50 states, but more critically in relation to career private-sector workers, and found an inequitable distribution of income in favor of government employees.
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