Many baby boomers, now nearing retirement, will receive most of any employer-provided retirement benefits as a lump sum from a defined benefit contribution plan such as a 401(k), rather than regular payments, for life, from a defined benefit pension plan.

The way that baby boomers manage their retirement savings may have a profound impact on the broader U.S. economy, including private investment markets, consumer spending, and government spending on social programs such as Social Security, Medicare and Medicaid.

This report discusses some of the issues that retiring baby boomers, governments and businesses face as a large number of baby boomers prepare to manage considerable savings during retirement.

Managing the implications of an aging population is a high priority for Deloitte member firms. This report is part of the Deloitte Public Sector industry group's "Aging Snapshots" series, a collection of briefs that examine issues and challenges related to the aging population.

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