As the first of 79 million Baby Boomers began turning 65 last year, we have entered a nearly two-decade span in which an unprecedented number of Americans will be retiring. Not only is this generation unique in terms of its size, but also in terms of the financial planning and savings issues it faces.

IRI has compiled a list of key Baby Boomer Quick Facts. These facts, many of which are from IRI research, provide insight into the unique financial needs and hurdles Boomers are facing as they enter into retirement.

• Between now and 2029, U.S. Baby Boomers will turn age 65 at a rate of roughly 7,000 per day. (Source: IRI, Baby Boomer Expectations for Retirement)
• 27% of Baby Boomers expect to work at least part-time during retirement; 8% have adopted the "work until you drop" attitude, indicating that they do not plan to retire. (Source: IRI, Middle-Income Boomers and Retirement)
• Experts from the Social Security Administration predict that the Social Security trust fund will go into the red in 2036. This is just five years after the youngest of the Boomers will become eligible to receive full retirement benefits. (Source: IRI, Health Care Costs and Retirement Income)
• 63% of Boomers lack full confidence that they will have enough money to cover their medical expenses during retirement. This jumps to 77% in reference to long-term care expenses. (Source: IRI, Health Care Costs and Retirement Income)
• Only one-third of Boomers within five years of retirement have a fully vested pension. (Source: IRI, Boomers Nearing Retirement)
• Since the Great Recession of 2008, 13% of employers suspended the company match on their 401(k) plans. Since then, one-quarter of these have yet to reinstate this match and another 25% reinstated the match at a lower level. (Source: Towers Watson)

Click on the PDF link below to view the complete IRI Quick Facts: Baby Boomer Retirement Crisis.