It’s Report Card Time. See What Grade the U.S. Retirement System Earned
Comparatively speaking, the U.S. retirement system is average. CNBC reported that the United States received a C+ grade and ranked No. 29 out of 48 global pension systems in 2024. That’s according to the annual Mercer CFA Institute Global Pension Index, which analyzed public and private sources of retirement funds, like Social Security and 401(k) plans.
The article states that “The lackluster standing by the U.S. in the world is largely due to a sizable gap in the share of people who have access to a workplace retirement plan.” U.S. employers are not required to offer workers a retirement plan like a pension or 401(k).
In our country, Social Security is a major income source for most older Americans. The Social Security Administration says about nine out of ten people aged 65 and older receive a Social Security benefit.
This is why The Seniors Trust is committed to improving the financial well-being of America’s retirees through the passage of The Social Security Expansion Act. It will give retirees an immediate benefits increase of about $200 a month, a fair annual cost-of-living adjustment (COLA), increased minimum benefits, and will ensure the long-term solvency of the Social Security program.
