For retirees looking for income from high-yielding certificates of deposit, the message is: Keep looking.
Rates on CDs, as they are otherwise known, are improving yet are still nowhere near pre-recession levels.
The national average rate for a six-month CD has increased to 0.22 percent from 0.16 percent two years ago, according to Bankrate.com. For the one-year CD, it's 0.36 percent, up from 0.27 percent.
That number is nothing like the roughly 3 percent offered a decade ago, said Reed Fraasa, a financial planner at Riverdale, New Jersey-based Highland Financial Advisors.