Americans For Secure Retirement

 “We applaud the initiatives proposed by the Obama Administration to ease the burden on middle income Americans by helping them achieve a financially secure retirement. Over the last two years, we have all witnessed the dramatic and immediate effect a downturn in the economy can have on middle income retirees and near retirees."  Read More

 A new report released today demonstrates that Hispanic Americans face greater challenges in obtaining a secure retirement than the average population. The paper, prepared by the Hispanic Institute think-tank and the Americans for Secure Retirement (ASR) coalition, finds that the unique challenges include a general lack of retirement preparation, less access to employer-sponsored retirement plans, lower levels of personal savings and inadequate financial literacy.  Read More 

Results from a Gallup survey released today demonstrate that non-qualified annuities contribute significantly to the retirement security of middle-class Americans, and that those who own annuities have great confidence in their financial future even amidst the recent recession and market downturns. Read More.

The Americans for Secure Retirement coalition today applauded the Obama Administration’s increased focus on the retirement challenges facing Americans and its announcement of proposals to help Americans achieve better financial security in retirement. While ASR is pleased that President Obama used his weekly Saturday address to propose changes that will make it easier for American workers to save for retirement, it called on the Administration to also consider broader and comprehensive retirement solutions. Read More

The Americans for Secure Retirement (ASR) coalition today welcomed the re-introduction in the U.S. Senate of critically important retirement legislation. The Retirement Security for Life Act, S. 1297, introduced by Sen. Kent Conrad (D-ND) and Sen. Pat Roberts (R-KS), provides incentives that will increase the accessibility of retirement vehicles that enable a guaranteed paycheck for life, helping Americans have a more financially secure retirement.  The Retirement Security for Life Act would provide a 50 percent tax exclusion on the annual income from a non-qualified lifetime annuity, up to $20,000. A lifetime annuity is the only financial vehicle that delivers a steady stream of income for life- a paycheck for life. Under the legislation, a typical American in the 25 percent tax bracket would save up to $5,000 in taxes annually.  Read More 

 The Americans for Secure Retirement (ASR) coalition today applauded introduction in the U.S. House of Representatives of crucial retirement legislation. H.R. 2748, the Retirement Security Needs for Life Act, introduced by Representatives Earl Pomeroy (D-ND) and Ginny Brown-Waite (R-FL) provides incentives for Americans to secure retirement vehicles that provide a steady stream of income for life.

The Retirement Security Needs Lifetime Pay Act would encourage retirees to receive some of their retirement savings in the form of guaranteed lifetime income. Included in the bill is a provision that would give a 50 percent tax exclusion on the annual income from a non-qualified lifetime annuity, up to $10,000 per year. A lifetime annuity is the only financial vehicle that delivers a steady stream of income for life- a paycheck for life.  Read More 

 The findings of a new report released today indicate that the decline in the stock market in the last six months of 2008 dramatically worsened the retirement outlook for middle-class Americans. The analysis, conducted by Ernst & Young LLP on behalf of the retirement coalition Americans for Secure Retirement (ASR), finds that due to the economic downturn, the retirement assets of recent and near retirees decreased between 14 and 17 percent in the last six months of 2008. This decline significantly reduces the likelihood that middle income retirees will have enough financial resources to last them through their lifetime. Read more.

Almost three out of five new middle-class retirees will outlive their financial assets if they attempt to maintain their pre-retirement standard of living, according to a new study conducted by Ernst & Young LLP on behalf of Americans for Secure Retirement.

The study also finds that middle-income Americans entering retirement now will have to reduce their standard of living by an average of 24 percent to minimize the likelihood of outliving their financial assets. Those Americans seven years out from retirement are even less prepared and the study estimates that they will have to reduce their standard of living by even more, an average of 37 percent. These reductions will be necessary even when assuming that retirees can maintain the same standard of living with income equal to 59 to 71 percent of their pre-retirement wages.  Read more.

Women are at a much higher risk than men of facing economic uncertainty in retirement and, on average, they'll enter retirement with considerably less savings than men. Women face these unique challenges because they spend fewer years in the workforce, earn less income and have longer life spans than men, according to a report released today entitled, "The Female Factor 2008: Why Women are at Greater Financial Risk in Retirement." Read more.

Forty-five percent of American voters are not confident they will have the money to cover even their fixed monthly costs during retirement and one in six voters, or approximately 20 million voters, have no retirement plan at all according to a new national survey released today by Americans for Secure Retirement (ASR). The survey also finds broad support for tax incentives for lifetime annuities, which help strengthen financial security in retirement.  Read more.