As of 2009, some 51% of households were at risk of being unable to maintain their pre-retirement standard of living at age 65, according to the report “The National Retirement Risk Index, After the Crash.” Some 41% of early baby boomers, 48% of later boomers and 56% of Gen Xers were at risk, the report said. Everything can’t be blamed on the financial crisis. The report noted that 37% of early boomer and 43% of late boomer households were at risk in 2007. “The gist of this whole story is that retirement ages are increasing as people live longer and health care costs rise, and at the same time the retirement system is retracting,” said Alicia Munnell, director of the Center for Retirement Research at Boston College.
One of the recorded votes on amendments was on a jab at short-term health insurance.
A Principal Financial executive represented life insurers at the hearing.
The allegations relate to the Georgia Underwriting Association.
Sponsored by Fidelity Investments
Get insights into the mindset that’s driving today’s advisors to make a move--and help realize their unique business vision.
Don’t miss crucial news and insights you need to make informed investment advisory decisions. Join ThinkAdvisor.com now!
- Free unlimited access to ThinkAdvisor.com which provides advisors, like you, with comprehensive coverage of the products, services and trends necessary to guide your clients in making critical wealth, health and life decisions.
- Exclusive discounts on ALM and ThinkAdvisor events.
- Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.
Copyright © 2019 ALM Media Properties, LLC. All Rights Reserved.