To help raise public awareness of the need to comprehensively plan for retirement, Lincoln Financial Group and the National Retirement Planning Coalition (NRPC) are sponsoring The National Retirement Planning Week® from April 11–15, 2011.
Reports show that during 2011 the first of 79 million Baby Boomers will turn 65, and that 4 million Boomers will turn 60 each year for the next 18 years. For many, this milestone will present a much-needed opportunity to reassess their level of retirement preparedness. Insured Retirement Institute (IRI) research shows that nearly seven out of 10 Boomers within five years of retirement, and nearly eight out of 10 of Boomers with more than five years to build savings, stated that they are concerned about having adequate income during retirement.
"With today’s economic reality, more and more people are realizing that they’re not prepared for the risks and challenges of retirement," said Rob Grubka, Head of Retirement Solutions Product for Lincoln Financial Group. "Employer-sponsored retirement plans and guaranteed income solutions can help people be better positioned to enjoy the quality of life they’re used to well into retirement. We support National Retirement Planning Week and encourage people to take this week to reassess their retirement savings and commit to getting on track and staying on track to reach their long-term financial retirement goals."
The National Retirement Planning Coalition is headed by the IRI, and includes the American Council of Life Insurers (ACLI), Americans for Secure Retirement (ASR), Center for Retirement Research at Boston College, Defined Contribution Institutional Investment Association (DCIIA), Employee Benefit Research Institute (EBRI), Financial Services Forum, Financial Services Institute (FSI), Financial Services Roundtable (FSR), National Association of Fixed Annuities (NAFA), NICSA, Retirement Income Industry Association (RIIA), The American College, The Aspen Institute Initiative on Financial Security (Aspen IFS) and Women’s Institute for a Secure Retirement (WISER).
The Coalition recognizes that the need to educate Americans on retirement planning is an ongoing effort and is committed to making this a national priority. The National Retirement Planning Week® and other coalition activities will demonstrate that it is possible to "Retire On Your Terms" if comprehensive retirement plans are properly developed and managed. To support these education efforts, the coalition maintains a year-round website — www.retireonyourterms.org — offering resources to both consumers and financial professionals.
The 2011 National Retirement Planning Week® events include:
- April 11: EBRI President and CEO Dallas Salisbury hosts a webinar on consumer retirement readiness, leveraging data from EBRI’s 2011 Retirement Confidence Survey.
- April 12: IRI President and CEO Cathy Weatherford moderates a media forum with industry leaders on evolving perceptions of risk management in the insured retirement market. New IRI research on Boomers and retirement will be released onsite as well.
- April 13: IRI hosts a practice management webinar for financial advisors.
- April 14: The Coalition releases a client-approved tip-sheet for financial advisors on how consumers can formulate a plan for lifelong financial retirement health.
- April 15: The Aspen Institute hosts a Washington, D.C.-based roundtable on retirement issues.
About Lincoln Financial Group
Lincoln Financial Group is the marketing name for Lincoln National Corporation (NYSE:LNC) and its affiliates. With headquarters in the Philadelphia region, the companies of Lincoln Financial Group had assets under management of $157 billion as of December 31, 2010. Through its affiliated companies, Lincoln Financial Group offers: annuities; life, group life, disability and dental insurance; 401(k) and 403(b) plans; savings plans; and comprehensive financial planning and advisory services. For more information, including a copy of our most recent SEC reports containing our balance sheets, please visit www.LincolnFinancial.com.
About the Insured Retirement Institute
The Insured Retirement Institute (IRI) is a not-for-profit organization and is the authoritative source of all things pertaining to annuities, insured retirement strategies and retirement planning. IRI exists to vigorously promote consumer confidence in the value and viability of insured retirement strategies, bringing together the interests of the industry, financial advisors and consumers under one umbrella. IRI’s mission is to: encourage industry adherence to highest ethical principles; promote better understanding of the insured retirement value proposition; develop and promote best practice standards to improve value delivery; and to advocate before public policy makers on critical issues affecting insured retirement strategies. Visit www.IRIonline.org to experience the new, vast resources of the new Insured Retirement Institute for yourself.