Baby Boomers' Retirement Prospects: An Overview
[November 2003 - United States Congressional Budget Office] Over the past 15 years, the retirement prospects of the baby-boom generation (people born from 1946 to 1964) have become a source of public concern. Some experts contend that low saving by boomers could limit economic growth in the United States and compound the financial pressures that face government programs such as Social Security and Medicare. This Congressional Budget Office (CBO) study--prepared at the request of the Chairman of the Senate Budget Committee--updates and expands on a 1993 CBO report on the retirement preparedness of boomers. It places the baby-boom retirement issue in historical and policy context, describes the methodologies used to analyze that issue, reviews numerous studies of retirement preparedness that have been published since 1993, and draws general conclusions from their findings. ...