Preparing Americans for retirement is at the forefront of priorities for lawmakers and industry, as putting off saving for retirement for even a few years will shortchange employees in their golden years.

According to new data released by the Insured Retirement Institute, waiting to contribute 10% of an employee’s annual income until the age of 35 rather than 30 will result in an 11% decrease in annual retirement income of the course of a 25-year retirement span.

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