Washington, D.C., (July 30, 2012) -- A new report, “The Retirement Crisis and a Plan to Solve It,” issued by Sen. Tom Harkin, (D-IA,) chairman of the U.S. Senate Health. Education, Labor & Pensions Committee, will serve to highlight the importance of helping and encouraging workers to address their retirement security needs.
Retirement plan coverage needs to increase, along with retirement savings and the understanding of the importance of guaranteed income for life. The dignity of millions of future retirees is at stake.
Fortunately, lawmakers and regulators do not have to start from scratch. The employer-based system, along with IRAs and annuities, are tools that are helping millions of Americans build retirement security. They represent the best way to address the retirement security crisis.
As Sen. Harkin, the HELP Committee and others work to boost Americans’ retirement security, ACLI and its members will offer their expertise on proposals to ensure every American has access to financial security and peace of mind in retirement.
The American Council of Life Insurers (ACLI) is a Washington, D.C.-based trade association with more than 300 legal reserve life insurer and fraternal benefit society member companies operating in the United States. ACLI advocates in federal, state and international forums. Its members represent more than 90 percent of the assets and premiums of the U.S. life insurance and annuity industry. In addition to life insurance, annuities and other workplace and individual retirement plans, ACLI members offer long-term care and disability income insurance, and reinsurance. Its public website can be accessed at www.acli.com.