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The retirement savings levels of working age Americans is "deeply inadequate," according to a new research report from the National Institute on Retirement Security. In fact, an analysis of U.S. Census Bureau data, included in the report, reveals that the median retirement account balance among all working individuals is $0.

Furthermore, the data notes that 57 percent of working age Americans (more than 100 million people) do not have any retirement assets in an employer-sponsored plan, such as a 401k, or an individual account or pension.

Other report findings worth noting:

• For those workers who do have some savings for retirement, the account balances are modest – averaging $40,000.
• About 68 percent of those 55 to 64 only have retirement savings equal to less than one times their annual income – far less than what they will need to maintain their standards of living into retirement.
• Roughly 77 percent of Americans are short of even conservative retirement savings targets for their age and income – even if they worked until 67.
• A typical working American needs roughly 85 percent of their pre-retirement income to maintain their standard of living in retirement. Social Security, as it stands now, supplies about 35 percent of this level for a typical worker.

Many credit unions offer financial literacy programs to help their members be in control of their finances. NAFCU's March Economic & CU Monitor found that two-thirds of credit unions surveyed offer programs focused on retirement savings, and a majority are partnering with third-party vendors to help members with budgeting, personal financial management and credit monitoring. Many credit unions also offer incentives to help members save.