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EBRI survey shows many Americans are unprepared for retirement
Key conclusions from EBRI's 2007 Retirement Confidence Survey
On April 11, 2007, the Employee Benefit Research Institute (EBRI) published its 17th annual Retirement Confidence Survey.
The three key conclusions EBRI highlights include:
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- Few Americans appear to be taking the steps needed for a financially secure retirement.
- Despite apparent lack of preparation and recent employer announcements, Americans remain confident about their retirement prospects.
- Americans have many sources of information about finances, but action is limited. Automatic options could be a way to improve action.
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Learn more from EBRI
Insights based on EBRI survey results
In a world where many individuals are uncertain about how to save for retirement, the role of retirement plan sponsors becomes increasingly important. Based on EBRI's 2007 Retirement Confidence Survey, we've highlighted some key insights for plan sponsors.
Insights Based on EBRI's Survey Results
Retirement: The great unknown?
Saving for retirement is an overwhelming unknown for many Americans. EBRI's survey revealed:
Many lack basic factual knowledge about retirement saving and many have no clear action plan to address their savings needs. For example:
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- Most workers (82%) do not know when they will be eligible for Social Security retirement benefits
- Many (40%) have not given serious thought to how long their retirement is likely to last,
- Most (57%) have not tried to figure out how much money they will need in order to live comfortably in retirement.
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There are gaps between expectations and experience. For example:
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- Nearly two in five retirees (37%) left the workforce before they planned to, and
- While most workers (66%) think they will work after retirement, far fewer retirees (37%) have actually done so.
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We provide retirement solutions for investors of all sizes.
We can help organizations of all sizes develop their investment strategies and find investment solutions tailored to their needs.
To learn more about our services for DC plan sponsors, please contact Phil:
Phil Enochs
Director, Institutional Defined Contribution Services
866-203-2153 |
To learn more about out services for DB plan sponsors, please contact Rob or Gerry:
Russell Investment Group is a Washington, USA corporation, which operates through subsidiaries worldwide, including Russell Investments, and is a subsidiary of The Northwestern Mutual Life Insurance Company.
Nothing contained in this material is intended to constitute legal, tax, securities, or investment
advice, nor an opinion regarding the appropriateness of any investment, nor a solicitation of any
type. The general information contained in this publication should not be acted upon without
obtaining specific legal, tax, and investment advice from a licensed professional.
Russell Investments, whether affiliated or not affiliated with sites linked to this site ("Linked Sites"), is not responsible for the website's content. The Linked Sites is for the convenience of the user only, and may be accessed by the user only at the user's own risk.
USIRC3031
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DC plan sponsors contact Phil |
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DB plan sponsors contact Rob or Gerry |
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