Social Security was never meant to be the sole source of a person’s retirement income: rather, it was part of a three-pronged approach that also includes pensions and personal savings. However, in the private sector, traditional pensions have largely been replaced by DC plans.Nearly three in four Americans expect to rely on Social Security in retirement, according to research from Empower. (2) But with an average monthly check of $2,008.31 for retired workers (as of July 2025), that won’t be enough for most ...