This year, the number of North Carolinians 60 and older is likely to exceed those under 18. That makes AARP North Carolina’s work even more relevant, especially in certain western counties, where projections show residents 65-plus could be about a third of the population by 2030.
Many people want a secure retirement, but not everyone has the right tools to achieve it. AARP North Carolina is asking state lawmakers to set up a retirement savings plan for people who don’t have access to a 401(k) or similar plan at work.
“If you have a pension, you’re one of the lucky ones,” said a Duke economist acknowledging that over the past few decades, most employers have shifted away from maintaining a pension fund for their workers and former employees. Increasingly, it’s up to people to save on their own, usually through a 401K from their employer or from opening an Individual Retirement Account. Yet, many workers are finding themselves near retirement, without the retirement income or savings they need to stay out of poverty and off public assistance programs.
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