Industry analysts view retirement income security as the hot-button issue that will be on the table once the healthcare reform issue has been resolved.
Several recent surveys indicate how unprepared most Americans are when it comes to retirement income:
- A recent BofA Merrill Lynch survey revealed that 45% of those between the ages of 55 and 75 had not calculated how long their assets would last.
- Another survey by the Employee Benefit Research Institute indicates that 70% of people entering retirement lack a basic financial plan or calculation regarding how long they will live in retirement.
The role, cost and transparency of annuities will likely be central to the public policy debate.
Source: Bank Investment Consultant
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