Capitol Alert
The latest on California politics and government
October 3, 2011

California workers are less likely than most Americans to have employer-sponsored retirement plans, according to a new academic report, and nearly half of them will retire in or near poverty status.

The report was issued Monday by the Center for Labor Research at the University of California, Berkeley. Among other thing, the researchers, Sylvia Allegretto and Nari Rhee, found that California’s retirees are overwhelmingly dependent on Social Security for retirement income because of the relative lack of supplemental retirement benefits.

Social Security, they said, provides 79.1 percent of retirement income for those in the bottom quartile of retirees by income, and 70.3 percent for the middle 50 percent.

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