10/08/2013 09:24 am ET

Here Come The Three Horsemen Of The Retirement Apocalypse


Big changes are coming to the broken U.S. retirement system, which in total is underfunded by at least $6.6 trillion, according to one analysis.

All three pillars of retirement—Social Security, employer-sponsored plans and personal savings—have weakened in recent years. The time has come for “out-of-the-box thinking” and a “holistic” solution, Barbara Novick, vice chairman of asset manager BlackRock, said at a briefing on the firm’s latest retirement report.

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