Archives
Here you'll find past news releases as well as statements -- including speeches and congressional testimony -- by coalition officers and representatives. Interview and information requests should be directed to the coalition at 202.777.3554.
| Senator Snowe and Senator Collins Support Bill to Encourage “Paycheck for Life” New Legislation Would Help Americans Reach Retirement Security |
| WASHINGTON - Americans for Secure Retirement Chairman Harvey Blitz today released the following statement commending both Senator Olympia Snowe (R-ME) and Senator Susan Collins (R-ME) for supporting The Retirement Security for Life Act: READ MORE |
| New Poll Shows Hispanic Americans Vulnerable in Retirement: Lack Savings, Employer Benefits Survey Reveals Support for Congressional Action on Retirement Policy | ||
| WASHINGTON – Americans for Secure Retirement (ASR) and the Latino Coalition today released a poll whose results show that America’s Hispanic community faces significant challenges in preparing for a financially secure retirement because of low level of savings and limited access to employer retirement plans such as 401(k)s. | ||
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| Aging Committee Weighs How to Ensure Americans Have Steady Income in Retirement ASR Submits Testimony Supporting Incentives for Lifetime Annuities |
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WASHINGTON –Americans for Secure Retirement (ASR) Chairman Walter Welsh today told the Senate Special Committee on Aging that Congress should help Americans better plan for retirement and not outlive their savings by implementing policies encouraging the use of lifetime annuities as a way to secure a steady stream of income for life. Specifically, Welsh called on Congress to enact legislation called The Retirement Security for Life Act (S. 381, H.R. 819), which would result in an average tax savings of $5,000 for Americans in the 25 percent tax bracket by providing a 50 percent tax exclusion on the payout from a lifetime annuity. READ MORE |
| New Poll Shows Americans More Worried About Making Retirement SavingsLast Than Saving in General Survey of 50-70 Year Olds Finds Retirement Security Should be Front Burner Issue for Congress |
| WASHINGTON – Today Americans for Secure Retirement (ASR) released a poll showing that more working Americans aged 50-70 years old (50%) are concerned about making their retirement savings last their lifetime than are concerned with saving enough for retirement (38%).The poll – jointly conducted by Republican pollster Bill McInturff of Public Opinion Strategies and Democratic pollster Mark Mellman of the Mellman Group – also found that more than two-thirds of older American voters are concerned about maintaining their living standard throughout retirement, and nearly half (48%) say they are more concerned about this than when they first retired. Fifty-nine percent of older Americans said Congress should create an incentive for people to annuitize their savings so they last a lifetime. READ MORE |
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**MEDIA ALERT**
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As tax day approaches Americans are filing away their IRS forms and hoping to get enough relief so that they can save for retirement. As the attached check represents, if The Retirement Security for Life Act (S. 381/H.R. 819) were law, many people would be eligible for an average $5,000 exclusion on their tax returns and they would be encouraged to invest in a steady paycheck for life! The bill would provide a 50 percent tax exclusion on the income from a non-qualified lifetime annuity, a strong tax incentive for people to secure a steady stream of income throughout their golden years.READ MORE |
| SAVER Summit Attendees Urged to Address “Often Overlooked” Issues. Coalition Calls for Solutions that Help All Americans Save for Retirement – Not Just Those with Employer-Based Plans & Need for Tools to Both Save and Manage Retirement Income |
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WASHINGTON—On the eve of the final SAVER Summit several national organizations are calling on Secretary of Labor Elaine Chao and Summit delegates to address the need for retirement savings programs accessible to all Americans and the need for mechanisms that not only encourage people to save more, but also provide a means of managing those savings so they last throughout retirement. READ MORE |
| Statement from Americans for Secure Retirement Chairman Walter Welsh on President Bush’s State of the Union Speech |
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February 1, 2006 - “Last night, President Bush stressed the urgent need for America to focus on how we will handle the upcoming retirement of 78 million baby boomers. READ MORE |
| Nearly 15,000 Americans Call on Congress to Act on Retirement Security |
| July 13, 2005 - In a sign of growing public concern over national retirement policy, nearly 15,000 Americans have signed a petition urging Congress to promote policies that help individuals manage retirement savings to provide income to last a lifetime by passing The Retirement Security for Life Act (H.R. 819/S. 381). This legislation would provide a tax incentive to encourage investment in some individual, after-tax savings in retirement vehicles like annuities that provide a steady “paycheck for life.” READ MORE |
| Statement Regarding Retirement Savings & Security Act of 2005 |
| June 9, 2005 - Today Senators Kent Conrad and Gordon Smith introduced the Retirement Savings & Security Act of 2005. One of the major tenants of the bill is a tax incentive to encourage people to put some of their after-tax savings in an annuity -- the only way outside Social Security or traditional pension plans to ensure a steady “paycheck for life” throughout retirement. READ MORE |
| Farmers Face Elevated Retirement Risk |
| May 5, 2005 - America’s farmers are at a higher risk of experiencing declining standards of living in retirement, according to a paper released today by the American Corn Growers Association (ACGA) and Americans for Secure Retirement (ASR). READ MORE |
| Bipartisan Congressional News: Lawmakers Introduce Lawmakers Introduce Bipartisan Retirement Security for Life Act |
| February 15, 2005 – A bipartisan group of House and Senate lawmakers introduced legislation today that is designed to help Americans secure their retirement with a guaranteed "paycheck for life" through investment in life annuities. Sponsors of the respective bills include Senators Gordon Smith (R-OR) and Kent Conrad (D-ND) and U.S. Representatives Nancy Johnson (R-CT) and John Tanner (D-TN). READ MORE |
| Congressional Leaders Call for Expansion of Retirement Security Debate |
| February 15, 2005 - Americans for Secure Retirement -- a coalition representing a broad cross section of interests from women’s groups and rural organizations to consumer advocacy and taxpayer organizations – applauded a group of bipartisan Congressional leaders today for recognizing that any debate on retirement security must include a conversation about not only savings accumulation, but also management of savings so they last a lifetime. READ MORE |
| Statement from Americans for Secure Retirement on President Bush's State of the Union Speech |
| February 3, 2005 - Last night, President Bush set the stage for a debate over how to strengthen our country's retirement system. While there may be differing views on the level of crisis that Social Security faces, one thing everyone should be able to acknowledge is the surefire crisis Americans face in managing their retirement savings to provide a steady income for life... READ MORE |
| Decline in Replacement Rates Coupled with Decrease in Defined Benefit Plan Coverage Pose Retirement Security Challenges |
| February 1, 2005 - On the eve of President Bush's State of the Union address where he is certain to address the impending retirement crisis in our nation, it is important that our political leaders take note that much of the crisis lies in managing retirement savings so that they provide income that lasts a lifetime. Policymakers must look at encouraging lifetime annuitization if they want to fully address the scope of today's retirement problem... READ MORE |
| Coalition Urges Congress to Make New Year's Resolution to Get America Retirement Ready |
| January 13, 2005 - Now that the cork has popped, the champagne flowed and 2005 is upon us, many Americans have steadfastly made their New Years resolutions. For those who have vowed to do a better job of saving for their eventual retirement, it may be welcome news that high on the list of resolutions for the Bush Administration and Congress this year is retirement reform... READ MORE |
| Women’s Groups Unite to Spotlight Retirement Crisis |
| December 15, 2004 - Americans for Secure Retirement, a bi-partisan coalition working to help middle class families maintain their standard of living in retirement, today announced that four women’s organizations—Business and Professional Women/USA, Women in Farm Economics, Women Impacting Public Policy and the Women Presidents’ Organization—have joined the coalition, bringing its total number of members to 22... READ MORE |
| Coalition Applauds Senate Leadership on Retirement Security |
| December 7, 2004 - Americans for Secure Retirement -- a coalition representing a broad cross-section of interests from women’s groups and rural organizations to consumer advocacy and taxpayer organizations – today commended Senators Gordon Smith (R-OR) and Kent Conrad (D-ND) for their leadership on retirement security following their introduction of the Retirement Security for Life Act in the United States Senate... READ MORE |
| Millions of Retirees Face Reduced Standard of Living in Retirement |
| September 23, 2004 - Many of the nation’s 77 million baby boomers could experience declining living standards in their golden years, according to an analysis prepared by economist Jeffrey R. Brown, assistant professor of finance at the University of Illinois at Urbana-Champaign’s College of Business , and a former Senior Economist with the White House Council of Economic Advisors... READ MORE |
To view a full copy of The New Retirement Challenge, please click here. |
| If you would like to request a hard copy of the white paper, please email info@paycheckforlife.org. |
 Bipartisan Bill Promises "Paycheck for Life" to Help Make Retirement More Secure |
 July 20, 2004 - With the support of a broad-based coalition of women’s, farm, consumer, minority, insurance, business and taxpayer organizations, Representatives Nancy Johnson (R-CT), John Tanner (D-TN), Phil English (R-PA) and Stephanie Tubbs Jones (D-OH) introduced The Retirement Security for Life Act of 2004 (H.R. 4849), a bill that would give Americans more control over their retirement and empower them to receive a steady income for life... READ MORE |
Coalition In The News
Recent coverage of coalition activities or articles mentioning the work of Americans for Secure Retirement can be found below.
| Annuity Income Tax Break Bill Introduced |
| December 13, 2004 - Legislation has been introduced in the Senate that would reduce by half the tax on the income generated by annuities that make lifetime payments... READ MORE |
| Bipartisan Annuities Bill Introduced in Senate |
| December 13, 2004 - Legislation giving favorable tax treatment to annuities was introduced in the U.S. Senate shortly before Congress adjourned for the year by senators who warned that the first members of the baby-boomer generation would hit retirement age in about three years -- making it important for lawmakers to revamp the country's retirement and tax policies now rather than later... READ MORE |
| Less Bang For the Boomers |
| December 13, 2004 - As a Pan Am stewardess in the 1970s and '80s, Cindy Hounsell assumed that her retirement would be secure. Even after the financially troubled airline froze pensions in 1982, she thought, "I have a pension, so I'll be just fine." Recalling her youthful naiveté, she adds, "I didn't know that you needed a lot more savings." READ MORE |
| Update |
| December 10, 2004 - A proposal to encourage workers to invest in annuities, which provide a fixed, guaranteed lifetime payment to retirees, has found bipartisan co-sponsors in Sens. Gordon Smith, R-Ore., and Kent Conrad, D-N.D. Smith and Conrad introduced legislation Tuesday that would shield from taxes half of the income investors in annuities receive upon retirement, up to $20,000. READ MORE |
| Annuities Offer a Long-Term Investment Option |
| October 11, 2004 - Annuities have become a popular investment vehicle. Physicians may find them attractive because they can be used as an asset protection tool. And those who need to sock away extra money for retirement may like investing in annuities -- as long as they don't need immediate access to their money. READ MORE |
| Proposed Law Would Help Retirees Keep the Tax Collector Away |
| October 4, 2004 - Annuities could become an attractive option for retirement savings if Congress passes The Retirement Security for Life Act this year... READ MORE |
| The Looming National Benefit Crisis |
| October 3, 2004 - The long-term economic health of the United States is threatened by $53 trillion in government debts and liabilities that start to come due in four years when baby boomers begin to retire... READ MORE |
| Steady Income for Your Golden Years |
| October 1, 2004 - A proposed tax break would give retirees an attractive alternative for their savings... READ MORE |
| Saving Only The First Step To Retirement |
| September 23 , 2004 -With millions of baby boomers beginning to retire, longer life expectancies, and the uncertain future of Social Security, people not only need to save but also make sure they have an income for their entire lives, a report released Thursday said... READ MORE |
| Support For Annuities Growing, But Concerns Remain |
| September 13, 2004 - Mention the word "annuities" and many people's eyes will glaze over with boredom. Others might think of complicated financial products sold by fast-talking salesmen... READ MORE |
| Set For Life: Fixed-Immediate Annuity Offers The Allure Of Steady Income Stream |
| September 12, 2004 - There's one annuity that doesn't have a mile-long rap sheet - the lifetime-fixed-immediate annuity. And despite its mouthful of a name, it's the easiest annuity to understand, the cheapest to buy and for some people the most desirable to own.... READ MORE |
| Groups Push Annuities as a Way To Stretch a Retirement Nest Egg |
| September 8, 2004 - A growing chorus of voices from Capitol Hill to Wall Street is pushing, of all things, the much-maligned annuity... READ MORE |
| August 2, 2004 - A new bill proposed in the House would exempt up to $20,000 in annuity income from federal taxation. The Retirement Security for Life Act of 2004 proposes that 50% of annuity income, up to $20,000 annually, be free of taxes, amounting to savings up to $5,000 for someone in the 25% tax bracket... READ MORE |
| Lawmakers push bill that will give retirees consistent income for life |
| August 1, 2004 - U.S. Rep. Nancy Johnson, R-New Britain, would like to see more middle-income retirees receive a "guaranteed paycheck for life." READ MORE |
| July 29, 2004 - Americans will get a tax break for taking an extra step toward a secure retirement under a bill being considered in Congress. Retirees who buy something called a "life annuity" -- paying an insurance company a big chunk of money in exchange for a lifetime stream of income -- will get half that income tax-free, according to a bill introduced in the U.S. Congress last week by Nancy Johnson, R-Conn... READ MORE |
| Johnson introduces "paycheck for life" legislation to aid retirees |
| July 27, 2004 - Rep. Nancy Johnson on Tuesday introduced legislation that would offer a tax incentive for people saving for retirement, an initiative she said would contribute to a “paycheck for life.” READ MORE |
| July 23, 2004 - Imagine having a guaranteed paycheck for life. That's what a new bill aims to provide for the long retirement that many Americans may see in the decades ahead. Ashley Milne-Tyte reports... READ MORE |
