A June 2022 report from the Transamerica Center for Retirement Studies (TCRS) in collaboration with Transamerica Institute finds that fewer than three in 10 workers (29 percent) believe they are saving enough for retirement. The report, Emerging from the COVID-19 Pandemic: The Retirement Outlook of the Workforce, is part of TCRS’ 22nd Annual Retirement Survey, one of the largest and longest-running surveys of its kind. The new report examines the impacts of the COVID-19 pandemic, including the health and financial well-being and retirement outlook of the workforce. It highlights the urgent need to strengthen the U.S. retirement system and outlines recommendations for doing so.
The 22nd Annual Transamerica Retirement Survey polled a nationally representative sample of more than 10,000 people in late 2021. This report is based on 5,000+ people who self-identified as employed full-time or part-time by other, self-employed, or unemployed but looking for work.