"I think [a C+ grade] would describe a rating where there is a lot of room for improvement," said Christine Mahoney, global retirement leader at Mercer, a consulting firm.
29 out of 48 global pension systems in 2024, according to the annual Mercer CFA Institute Global Pension Index , released Tuesday.
The U.S. system is often referred to as a three-legged stool, consisting of Social Security, workplace retirement plans and individual savings.
Employers aren't required to offer a retirement plan like a pension or 401(k) plan to workers.
American workers can withdraw their 401(k) savings when they switch jobs, for example.
Persons:
Christine Mahoney, doesn't, Mercer, Mahoney, it's, Graham Pearce, Pearce, David Blanchett
Organizations:
Mercer, Natixis Investment Management, U.S, Mercer CFA, Global, Social Security, Employers, U.S . Bureau of Labor Statistics, Finance, Research
Locations:
Netherlands, Iceland, Denmark, Israel, Mercer, Singapore, Australia, Finland, Norway, U.S