IRI: The Shorter, The Better

Consumers say they would be more likely to read condensed versions of investment prospectuses than they are to read the actual prospectuses.

The Insured Retirement Institute, Washington, has published statistics supporting that conclusion in a summary of results from a recent survey of 961 U.S. retirees and near-retirees with at least $100,000 in investable assets.

The IRI commissioned the survey in connection with its efforts to persuade the U.S. Securities and Exchange Commission to permit variable annuity issuers to use summary prospectuses.