Special Report: Pensions becoming scarce in private sector (Peoria Journal Star)

PEORIA — While pensions are still common for public workers, they’ve become a scarce commodity in the private sector. Fewer workers who retire from private business have the security blanket offered his or her public counterpart.

Fewer workers who retire from private business have the security blanket offered his or her public counterpart.

Using 2010 Census Bureau data, the New York Post found that the average New York retiree received an annual benefit of $13,100 while state and local government retirees received an average of $27,600.

A 2005 Texas study found that 92 percent of public sector workers participated in a pension program compared to only 36 percent of those in the private sector.

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