|Targeted News Service|
Now more than ever, Americans should be encouraged to think about and implement a retirement savings plan that will allow them to enjoy dignity and peace of mind when their working days are over.
That is why ACLI is a strong supporter of National Retirement Planning Week, an annual event sponsored by the
NRPC members include financial industry, educational and advocacy organizations committed to helping American workers achieve lifetime financial security.
Retirement planning is a two-step process. The first step is making a commitment to retirement savings. This can be done through an employer-provided plan, such as a 401(k), or on-your-own through an individual retirement account (IRA) or an annuity. The second step is turning those savings into a guaranteed stream of lifetime income–a paycheck for life–upon retirement.
For those with an employer-based plan, the bipartisan Lifetime Income Disclosure Act (S. 267), introduced by Sens.
This would help workers visualize how their savings will address their month-to-month needs.
In research commissioned by ACLI in 2010, 60 percent of workers age 45 to 65 said they would start saving more money immediately if this illustration showed that their monthly income would not be enough to meet their needs.
During National Retirement Planning Week, NRPC is hosting a series of events where workers can learn more about retirement planning.
TNS CT21CT-120410-3835242 61ChengTacorda
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