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October 28, 2013 at 11:09 AM
LIMRA and LOMA are launching the Secure Retirement Institute to encourage education and research on improving retirement readiness. Robert Kerzner, president and CEO, announced the effort at the 2013 LIMRA Annual Conference in October.
“Retirement is top of mind for most Americans, but our research shows that many consumers have not saved or planned enough to achieve a financially secure retirement,” Kerzner said in a statement. “While there has been much debate on what is causing this lack of preparedness, I think we can all agree that getting a better understanding of the fundamental issues undermining Americans’ financial security in the hands of decisions makers is critical and would help certainly move us in the right direction.”
The course focuses not on advisors, however, but on back-office staff at firms in the retirement industry, even those who may not necessarily interact with clients.
“There are a lot of programs for advisors, but we know that people in the back office can be siloed. They don’t always see the broader picture. Research has shown that employees with a better idea of where they fit in the company are more productive and more creative,” Catherine Theroux, director of public relations, told ThinkAdvisor on Friday.
The program is divided into three parts. The first course will be available on Monday and will provide a basic understanding of the retirement industry, Theroux said: “what’s going on the industry, different products, challenges consumers are facing.”
Employees who complete the courses in the first portion of the course will earn a Certificate in Retirement Essentials.
