Affordable retirement: light at the end of the tunnel.
Compared to previous studies, the 2004 Replacement Ratio Study from Aon Consulting/Georgia State University shows an increase in the amount of income today's workers need at retirement to maintain their preretirement standard of living. After describing the study's replacement ratio findings, the authors estimate lump sums needed at retirement and required adjustments for both nonincreasing annuities and retiree medical expenses. They then describe steps innovative plan sponsors can take to encourage participants to understand and undertake their responsibility to acquire the substantial personal savings needed for a comfortable retirement.
Alford
Susan
S
Aon Consulting's Employee Benefits Consulting Group, Atlanta, Georgia, USA.
Farnen
D Bryan
DB
Schachet
Mike
M
D006801:Humans; D019458:Insurance Coverage; D010415:Pensions; D012179:Retirement / Q000191:economics*; D012943:Social Security; D013660:Taxes; D014481:United States