Participants who contribute under 3 percent of pay have a median lifetime income replacement percentage of under 60 percent, while those who contribute 10 percent or more have a median retirement income replacement of over 100 percent, an Empower survey finds. (Photo: Shutterstock)
There's been progress in how well prepared people are in saving for retirement, but there's still plenty of room for improvement.
So says the Empower Institute in its white paper "Scoring the Progress of Retirement Savers," which looks at the progress that's been made among Americans in preparing for retirement and identifies areas in which there's still a need to improve.
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Marlene Satter
Marlene Y. Satter has worked in and written about the financial industry for decades.
