NIRS Report Reveals Median US Retirement Savings at $955, Signaling Looming Crisis

A National Institute on Retirement Security (NIRS) report released on February 22, 2026, highlights a severe savings gap: the median retirement savings for U.S. workers aged 21 to 64 is only $955. For workers approaching retirement (ages 55-64), the median balance remains critically low at $30,000. The data reveals a bifurcated system. While Fidelity reports average 401(k) balances of $144,400 for plan participants, roughly half of the American workforce lacks access to employer-sponsored plans, leaving many with no savings. NIRS Executive Director Dan Doonan noted that outside of high earners, Americans are prioritizing survival over savings. Macroeconomic risks are compounding the shortfall. The 2025 Social Security Trustees report projects the Old-Age and Survivors Insurance (OASI) Trust Fund reserves will be depleted in seven years, potentially limiting benefits to 77% of current levels. With Social Security providing at least 50% of income for half of seniors, the lack of private savings amplifies the looming fiscal pressure.