Even if they bite the bullet and stay on the job well past retirement age and late into their 70s, most Baby Boomers and the Gen-Xers who follow them will not have enough savings to cover their basic retirement expenses and out-of-pocket health costs.

That’s the grim news in a new study just released by the Employee Benefit Research Institute (EBRI), a private not-for-profit research organization based in Washington, DC.

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