BACKGROUND DATA RELATING TO RETIREMENT INCOME
Scheduled for a Public Hearing Before the
HOUSE COMMITTEE ON WAYS AND MEANS
on February 6, 2019
The Committee on Ways and Means has scheduled a hearing on February 6, 2019, regarding improving retirement security for America’s workers. This document, prepared by the staff of the Joint Committee on Taxation, provides background data relating to retirement income.
Generally, in retirement, individuals may derive the resources to support their living needs from one or more of three sources: income from pension benefits accumulated during their working years under employer pension plans or individual retirement arrangements; benefits received under Social Security, which also are based on an individual’s employment history; and other assets. The tables provide data related to the extent to which current retirees use these sources and data indicative of the extent to which the next generation of retirees may draw upon these same sources.
This little gem was prepared by the staff of the Joint Committee on Taxation, Background Data Relating to Retirement Income, (JCX-4-19), February 4, 2019. This document on the Joint Committee on Taxation can be found here .
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