Posted on April 8, 2019

WASHINGTON, D.C. – The Insured Retirement Institute (IRI) today kicked off National Retirement Planning Week with a new study on Baby Boomers’ retirement expectations. The study is further evidence that Americans require additional education to understand the need to undertake sound planning to achieve retirement security.

“During this week, the retirement income industry will focus on ways to communicate the importance of retirement planning for American workers,” said Wayne Chopus, IRI president and CEO.

“IRI’s annual Baby Boomer retirement study is the canary in the coal mine for both current and future generations,” Chopus said. “Our research continues to show that too many people are not saving enough to achieve a financially secure retirement.”

IRI’s Boomer Expectations for Retirement 2019 study showed that 45 percent of Baby Boomers have zero retirement savings. The survey further demonstrated that consumers who use a financial advisor and/or own an annuity are far more likely to feel confident about their retirement versus consumers who neither use an advisor or own an annuity.

“Workers can take charge of their retirement planning with a few smart, sound steps,” Chopus said. “The challenge is to continually educate people to take the necessary action to build retirement savings then manage those funds in an effective way that delivers protected lifetime income.”

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Contact: Dan Zielinski