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Employers Asked to Take Part in Meeting Americans’ Retirement Income Needs
An economic report discusses Baby Boomers’ lack of retirement readiness and how a new framework for income security is needed as more and more people turn 65.
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There’s a wave of people turning 65 the traditional retirement age but that will peak in 2024, according to the Alliance for Lifetime Income, a nonprofit consumer education organization.
The alliance published an economic report that addresses how underprepared millions of Baby Boomers are for retirement and proposes ideas for a new retirement security framework. Author Jason Fichtner, a senior lecturer at Johns Hopkins University’s Paul H. Nitze School of Advanced International Studies and a research fellow with the Alliance for Lifetime Income and the Retirement Income Institute, suggests that the three-legged stool for retirement income security pensions, Social Security and personal savings is no longer sturdy.