Planning for retirement is one of the biggest challenges facing our country.
Many Americans face inadequate savings due to housing costs, debt, a late start in saving, along with limited access to employer-sponsored plans in the gig economy.
Increasing longevity and the decline of traditional pensions have led more people to rely on annuities to supplement Social Security and make savings last through retirement.
ACLI supports public policies like the passage of SECURE and SECURE 2.0 that create a stronger retirement system and help more Americans retire with dignity.
Life insurers hold $4.3 trillion in retirement savings.
Life insurers paid out $104.1 billion in annuity benefits in 2023, the most ever.
Annuities provided by life insurers will save $100 billion in Social Security expenditures over time.
