Are American workers ever going to be able to save enough to retire?

According to a report published this month by the National Institute on Retirement Security, employees across the country have saved a median amount of $955 toward their retirement.

No, that’s not a typo.

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That stunning statistic includes workers ages 21 to 64, with 401(k) plans, those with other retirement savings, and those who have nothing saved.

Among those with at least some savings in a defined contribution plan, that number was just a bit better — at $40,000, and that may be due in part to a change in law that made contributing the default. But that’s still far below where it needs to be.

That bad news is compounded further by the notion that Americans are living longer and facing........

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