IRI: We Share President’s Retirement Security Goals
January 26, 2015 by IRI
IRI Presents Blueprint for Advancing Retirement Security Agenda
WASHINGTON, D.C. – The Insured Retirement Institute (IRI) released the following statement from IRI President and CEO Cathy Weatherford following President Obama’s State of the Union address last night:
“We share significant common ground with the President when it comes to helping middle-income Americans prepare and save for their retirement years. President Obama and his Administration have made promoting retirement security a high priority, and his address to the nation last night – including the personal narrative of a struggling American family – confirms that it will remain a top priority on his domestic policy agenda. At IRI, we commend the focus on these issues, and have a blueprint on how policymakers can best advance the retirement security agenda. First and foremost, it will be imperative to preserve policies that are helping millions of American workers save and plan for their retirement years. This includes tax policies, such as the tax-deferred treatment of retirement savings, which promote and encourage savings. It also includes protecting access to professional financial help so that Americans can continue to receive the assistance they need to plan for a financially secure future. Those policies aside, additional measures exist that policymakers should embrace to promote retirement security for American workers. For example, lifetime income estimates have been shown to be helpful to workers and would spur greater savings. Policymakers should require that these estimates be included on benefit statements. Other common sense legislative reforms should be enacted, such as expanding access to multiple employer plans, increasing auto-enrollment and auto-escalation default rates, and other measures to expand the availability of lifetime income options in retirement plans. Advancing these practical policies are among the top priorities for IRI in 2015. We look forward to working with the President, his Administration, and all policymakers to build on this common ground and work to find sensible solutions that help Americans achieve a financially secure and dignified retirement.”
Click here to view IRI’s 2015 legislative and federal regulatory agenda.
About the Insured Retirement Institute: The Insured Retirement Institute (IRI) is the leading association for the retirement income industry. IRI proudly leads a national consumer coalition of more than 30 organizations, and is the only association that represents the entire supply chain of insured retirement strategies. IRI members are the major insurers, asset managers, broker-dealers/distributors, and 150,000 financial professionals. As a not-for-profit organization, IRI provides an objective forum for communication and education, and advocates for the sustainable retirement solutions Americans need to help achieve a secure and dignified retirement. Learn more at www.irionline.org.
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Contact:
Andrew Simonelli
asimonelli@irionline.org
IRI: We Share President’s Retirement Security Goals