Months after the collapse of the financial markets, about half of Americans surveyed said they were concerned about falling behind in their attempt to save for retirement, according to a new survey.
The online survey, conducted in April, found that 56% of respondents worried they will be unable to maintain their current level of contributions to their employer's 401(k) or other defined contribution retirement plan.
Thirty-four percent were "extremely" or "very" worried about falling behind in their savings.
Almost as many respondents, 53%, said they are concerned their employer will reduce or eliminate matching contributions on their retirement savings. Thirty percent were "extremely" or "very" worried.
About 32% said they were likely to postpone making additional contributions to their retirement plan, while 24% said they were likely to postpone retirement altogether.
The data consisted of responses from 1,019 U.S. adults between the ages of 18 and 64. The results have a margin of error of 3.5%, according to The Hartford, which commissioned the survey.
"In these difficult economic times, America's workers are worried that they will not have the financial wherewithal to continue their current lifestyles when they retire," says Tom Foster Jr., The Hartford's national retirement spokesman.