For most U.S. workers, retirement will be put off by two years, on average, as they work to meet their goals. These findings come from a report published by the Indexed Annuity Leadership Council (IALC), “The State Of America’s Workforce.”

The IALC found that for most U.S. workers, the most common reasons given for the two-year extension are not saving earlier (40 percent), making bad financial decisions (19 percent), not saving enough (17 percent) and personal issues—divorce, marital choice, career path, family illness, etc.—that affected their ability to save (eight percent). The report also notes that ongoing challenges such as high daily living expenses (26 percent) and elevated debt levels (24 percent) can limit the ability to save.

The study found that 46.9 percent of all workers consider themselves somewhat ready or very ready to retire, based on the percent of money needed for retirement that respondents have reportedly already saved. There are disparities within that figure, with white-collar workers exceeding the average at 49.1 percent and blue-collar workers trailing it at 44.7 percent.

Access to employee-sponsored plans also plays a large role in workers’ readiness. Workers who feel most-prepared for retirement are three times as likely as unprepared workers to have access to pensions, and 59 percent of those prepared have access to a 401(k) plan compared to 39 percent of unprepared workers. Furthermore, the most-prepared are five times likely to have individual retirement accounts, eight times as likely to have mutual funds and 10 times as likely to have an annuity. Overall, 64 percent of U.S. workers are satisfied with the retirement options provided by their employers.

For more details on the IALC’s findings on the U.S. workforce’s retirement planning, click here.