The lede (not, sadly, in correct AP Style):
Just 20% of retirement-age Americans can pass a basic quiz on how to make their nest eggs last throughout retirement. In fact, a large majority of people age 60 to 75 with at least $100,000 in assets lack the knowledge they need for a financially secure retirement in areas such as life expectancy, Social Security, long-term care needs, investment risk and more.The survey itself was conducted this past summer with 1,019 Americans ages 60-75 with at least $100,000 in household assets, not including their primary home. Best I can tell it was done through online interviews.
Lemme be clear. I would not have done well myself. I didn't know about the "4 percent rule," which has to do with how much you should withdraw annually from your retirement savings. Sixteen percent of survey respondents thought 6 or 8 percent was more likely. You can read a press release here, in Word format, with more details.
Me? I don't really need to know much as I'm on UGA's "optional" retirement plan, which means at some point in the distant future I may have the "option" to retire, but will never really be able to afford it.