|Copyright:||(c) 2011 Targeted News Service|
|Source:||Targeted News Service|
Unfortunately, many Americans struggle to understand how much they need to save and how those savings will last through retirement.
“America is suffering from a financial education deficit disorder. Many workers, especially those approaching retirement, need to develop a better understanding of how to build savings, how to assess their retirement income needs and where to get expert advice,” said ACLI President & CEO
“One initiative we strongly support is the bipartisan Lifetime Income Disclosure Act (S. 267 and H.R. 677) introduced in the
Research conducted on behalf of ACLI found that 91 percent of people surveyed would find this information valuable. And more importantly, 60 percent said they would start saving more money immediately if the illustration showed they would not have enough monthly income to meet their goals.
The Lifetime Income Disclosure Act would provide information that Americans preparing for their retirements want and need. As Americans examine their retirement plans during National Retirement Planning Week, we encourage
Mr. Kempthorne discussed the legislation and other retirement issues during a recent speech to the
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