Retirement in the USA: The Outlook of the Workforce

Today’s workers are struggling to save for retirement. They are traversing disruptions in the economy, a tenuous employment market, and the high cost of everyday living — and many are still regaining their financial footing from the COVID-19 pandemic and its aftermath.

Retirement in the USA: The Outlook of the Workforce, a collaboration between Transamerica Center for Retirement Studies (TCRS) and Transamerica Institute, delves into the retirement prospects of the U.S. workforce including workers who are employed by others, self-employed workers, and workers who are unemployed but looking for work. 

Based on a survey of more than 6,100 members of the workforce, the report delves into their life priorities and outlook, personal finances, retirement expectations, and how they are saving, planning, and preparing for the future. The report illustrates the urgent need for a collaborative and collective effort among policymakers, employers, and workers to strengthen the U.S. retirement system, and it offers recommendations for policymakers, employers, and workers. 

The report is based on findings from the 25th Annual Transamerica Retirement Survey, which was conducted in September and October 2024 and includes 4,818 workers who are employed by others, 599 who are self-employed, and 718 who are unemployed but looking for work.