" 29 percent of such households don’t have a pension."
What is surprising is that 71% do have a pension.

If I read the article correctly, I think it claims 29% of the 50% that don't have retirement savings also don't have pensions. The percentage of all households that don't have a pension could be even higher.

" 29 percent of such households don’t have a pension."
What is surprising is that 71% do have a pension.

In 2000, fund giant Vanguard Group introduced what it calls its Admiral class of shares as a way of rewarding loyal investors. Shareholders who held $150,000 for at least three years or $50,000 for at least 10 years were bumped up into the Admiral class by Vanguard. That gave them an immediate reward of annual fees that were as much as one-third lower than normal.
Today, $1.1 trillion, or fully 36% of Vanguard’s total assets, is in Admiral shares. As the firm’s assets have grown, the Admiral requirements have fallen: Anyone with at least $10,000 in an index fund or $50,000 in an actively managed fund qualifies, regardless of tenure. Fidelity Investments also offers shares with lower expenses to investors who keep a minimum of $10,000 in a fund.
You might think many other mutual-fund companies would have followed suit. But Admiral never aroused any “chatter or controversy or envy or emulation,” says a Vanguard executive who was involved in the launch. Several fund-industry experts say they aren’t aware of other firms that have done anything similar.