I find that figure exceedingly hard to believe was calculated correctly. Pension funds alone for civil servants (defined benefits, not retirement accounts,) are

I find that figure exceedingly hard to believe was calculated correctly. Pension funds alone for civil servants (defined benefits, not retirement accounts,) are significantly invested in stock equities, which is a significant portion of households working and retired. Add in 401Ks, IRAs, and discount the undocumented in the workforce I would be shocked if it was not at least 75%.