Some 9.2 million people in that age group now have 401(k) accounts, according to EBRI.
But the budget proposal isn't tied to a specific dollar figure, EBRI points out.
The EBRI survey doesn't count traditional pensions, which are designed to provide retirees for steady income throughout their lives.
Company stock in 401(k) plans peaked around 19% in 1999 and recently dropped to 9.7% in 2008, EBRI says.
The EBRI report shows that women are far behind men in IRA savings.
The EBRI report found that only 15% of folks who owned an IRA of any type made a 2008 contribution.
Given the current grim employment situation, EBRI projects the number of workers in retirement plans will continue to drop in 2010.
The news comes from the Employee Benefit Research Institute (EBRI), a private, non-partisan, nonprofit research institute based in Washington, D.
Not surprisingly, like many other studies of its kind EBRI finds that low income people are most likely to fall short.
The best hope for turning the trend around, EBRI says, is the automatic enrollment provisions Congress passed in the Pension Protection Act of 2006.
Many people are struggling to make sure they don't run out of money in retirement, said Jack VanDerhei, research director at EBRI, a nonprofit in Washington, D.
At companies where the 401(k) plan offers the option, workers aged 40 or over typically hold about 20% of their entire 401(k) account in the company's stock, according to EBRI data.
The portion of private-sector U.S. workers covered only by so-called defined-benefit plans fell to 3% in 2011 from 28% in 1979, according to U.S. Department of Labor data compiled by EBRI.
They found the most pessimistic levels of confidence among American workers that RCS has ever measured, in more than two decades of this survey, says Jack VanDerhei, EBRI research director and co-author of the report.
But when EBRI looked at the savings patterns of current workers aged 26 to 35 now participating in 401(k)s, it projected that anywhere from 1.2% to 4.2% could hit the limit depending on interest rates.
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The Employee Benefits Research Institute (EBRI) has today released its report highlighting the intense state of insecurity American workers are experiencing as they look forward with ever increasing trepidation to a retirement without sufficient money to see them through.
And in a new study, the Employee Benefit Research Institute (EBRI) laid out just how unprepared many Americans are for even a healthy retirement, to say nothing of one tha includes significant acute medical problems and long-term care needs.
Various types of high-deductible health plans have been around for about a decade, gradually working their way up to covering some 21 million people, or about 12 percent of the privately insured market, in 2011, according to the non-partisan Employee Benefit Research Institute (EBRI).
Only 14% of Americans surveyed by Employee Benefits Research Institute (EBRI) are very confident that they will have enough money to live comfortably throughout their retirement years, while half are not too confident or not at all confident that they will have enough.
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