Poll: Working Americans Falter

in Saving for Retirement


Are you saving enough for retirement? Victory State Bank is recommending this question not be ignored.  If your answer to the question is “No,” it seems you’re not alone.

The bank, Staten Island’s only community-based commercial bank, is pointing to a new Bankrate.com (NYSE: RATE) survey found just 19 percent of working Americans are saving more for retirement now than they were one year ago.

According to the report, 14 percent are saving less and 55 percent are saving about the same amount. A startling 10 percent haven't contributed anything to their retirement accounts this year or last year; this is the highest level seen in previous polls dating to 2011.

While 14 percent are currently saving less for retirement, this is a vast improvement from 2011 when 29 percent of Americans were saving less for their golden years.

The 2015 figure has slightly improved from 18 percent in 2012 and 17 percent in 2013. In terms of the number of Americans saving more, the percentage (19 percent) has inched higher from 15 percent in 2011 and 18 percent in 2012 and 2013.


About Victory State Bank

VSB Bancorp, Inc. (OTCQX: VSBN) is the one-bank holding company for Victory State Bank. As Staten Island, N.Y.’s only community-based commercial bank, Victory State Bank operates five full-service locations on the Island: The main office in the community of Great Kills, and branches in the communities of West Brighton, St. George, Dongan Hills and Rosebank. For additional information, Victory State Bank may be reached at 718-979-1100 or visited online at www.VictoryStateBank.com.


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