United States Government Publishing Office publisher pbl distributor dst United States Government Accountability Office author aut Government Organization text government publication eng GAOREPORTS Legislative Agency Publications gao legislative 2010-08-12 U.S. Government Printing Office 2003-04-25 monographic deposited born digital 86 p. GA 1.13:GAO-03-429 https://www.govinfo.gov/app/details/GAOREPORTS-GAO-03-429 P0b002ee180375754 f:d03429 DGPO 2010-08-12 2011-03-24 GAOREPORTS-GAO-03-429 machine generated eng fdlp REPORT GAOREPORTS-GAO-03-429 GAO-03-429 Comparative analysis Financial analysis Income statistics Projections Retirement benefits Retirement pensions Social security benefits Strategic planning Surveys Wage surveys Pension plan cost control Social Security Program Supplemental Security Income Program Medicare program Other Written Product A06729 Today's workers will rely to a large extent on Social Security, private pensions, and personal wealth for their retirement income. But some analysts question whether these sources will provide sufficient retirement income to maintain workers' standards of living once they leave the labor force. Indeed, the Social Security trust funds are projected to become exhausted in 2042, at which time, unless action is taken, Social Security will not be able to pay scheduled benefits in full. To gain an understanding of what today's workers might expect to receive in terms of retirement income, GAO was asked to examine (1) how the personal wealth of Baby Boom (born between 1946 and 1964) and Generation X (born between 1965 and 1976) workers compare with what current retirees had at similar ages, (2) how workers from the Baby Boom and Generation X compare in terms of the pension and Social Security benefits they can expect to receive, and (3) the likely distribution of pension and Social Security benefits across workers within the Baby Boom and Generation X. https://www.govinfo.gov/content/pkg/GAOREPORTS-GAO-03-429/html/GAOREPORTS-GAO-03-429.htm https://www.govinfo.gov/content/pkg/GAOREPORTS-GAO-03-429/pdf/GAOREPORTS-GAO-03-429.pdf GAO-03-429 https://www.govinfo.gov/app/details/GAOREPORTS-GAO-03-429 Other Written Product GAO-03-429; Retirement Income: Intergenerational Comparisons of Wealth and Future Income; Comparative analysis Financial analysis Income statistics Projections Retirement benefits Retirement pensions Social security benefits Strategic planning Surveys Wage surveys Pension plan cost control Social Security Program Supplemental Security Income Program Medicare program