Many educators are feeling good about their golden years.
Researchers at AIG VALIC, Houston, an arm of American International Group Inc., New York, have published data on teachers’ feelings about retirement planning in a summary of results of a recent survey of 1,988 U.S. adults ages 45 to 65.
The teachers in the sample are expecting defined benefit pension plans to replace 24% of their working household income, and they also seem to be a doing good job of contributing to other retirement savings vehicles, the researchers report.
Only 56% of the non-teachers in the survey sample said they save money for retirement each month, only 19% are working with a professional advisor, and only 13% are developing a financial plan for retirement, the researchers report.