By UC Berkeley Labor CenterNearly half of California workers will retire in or near poverty, shows a new study released by the University of California, Berkeley's Center for Labor Research and Education, "California Workers' Retirement Prospects"
While retirement security is and will be a problem in the whole of the nation, the situation is worse in California, because California workers have less access to employer retirement plans than workers in the United States as a whole, according to the study authors.
They found that retired people across the state rely overwhelmingly on Social Security income, a trend that could worsen as future workers retire without employer-sponsored benefits. Two-thirds of retirees in poverty are women, who are significantly more likely than men to be poor.
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