PLANADVISER - May/June 2019 - 16
trendspotting
Addressing Participant Longevity
Plan design and advice will both be key as retirees aim for age 100
turn, possible four-decade retirements.
The initiative includes the launch of
a new website, Planfor100.com, and
podcast series that will raise awareness
about the impact of increased
longevity and educate
Americans
about potential solutions.
Scheinerman says staying healthy
will help people allay health-careexpense
concerns.
But, for sponsors and advisers, one
way to assist workers who are aiming
for this goal is to use smart plan design.
Automatic enrollment and automatic
escalation, for instance, can help them
boost their savings. He suggests plan
sponsors and advisers set a target for
an ideal amount to save-e.g., 15%-
but plan to get participants there over
time, to minimize any pain. He also
notes that stretching the employer
match formula can encourage people
to save more.
" Good educational tools, to explain
the importance of saving and
how to invest, as well as access to
advisers, can make a big difference, "
Scheinerman says. " Getting a professional
to
coach participants along
the way is a good way to help them
[connect] health and savings with
their retirement expectations. "
As for Plan for 100 survey responMORE
than half (53%) of Americans
surveyed by AIG Life & Retirement said
their goal is to reach age 100. However,
this optimism for aging-fueled in part
by medical advances and healthier
lifestyles-is tempered by the financial
challenges individuals may face
in a retirement that could stretch 40
years or more.
Robert Scheinerman, president of
AIG Retirement Services, formerly
VALIC, says he was surprised by how
many people want to live to 100. " It
dispelled myths about old age and
how vibrant people are for a longer
time, " he says.
The survey was conducted as part
of the launch of AIG's " Plan for 100, "
an initiative focused on educating and
empowering individuals, employers
and financial advisers to help Americans
prepare for longer lives and, in
dents' expressed desire for guaranteed
income, Scheinerman says, the first
step is to ensure participants accumulate
enough money. Legislators also
have a role, he says. The Retirement
Enhancement and Savings Act (RESA)
can help make that first step possible.
-Rebecca Moore
Americans' Biggest Fears About Living to 100
Social
Serious
health
conditions
35%
Being a
burden to
their
family
27%
Source: AIG Life & Retirement
16 | planadviser.com May-June 2019
Art by Tim Bower
23%
23%
Insufficient
retirement
income
Rising cost
of health
care
Security /
Medicare's
future
19%
Stock
market
volatility
19%
http://www.planadviserdigital.com/planadviser/may_june_2019/TrackLink.action?pageName=16&exitLink=http%3A%2F%2FPlanfor100.com
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PLANADVISER - May/June 2019
Table of Contents for the Digital Edition of PLANADVISER - May/June 2019
Advisers' Future Trajectory
Tangled
2019 PLANADVISER DCIO Survey
High-Tech Meets High-Touch
Whatever Suits
New Platforms Support ETFs
Major Cases
Good News for P.R. Plans
Denial of Benefits
The Cost of Advising One's Own Plan
PLANADVISER - May/June 2019 - C1
PLANADVISER - May/June 2019 - FC1
PLANADVISER - May/June 2019 - FC2
PLANADVISER - May/June 2019 - C2
PLANADVISER - May/June 2019 - 1
PLANADVISER - May/June 2019 - 2
PLANADVISER - May/June 2019 - 3
PLANADVISER - May/June 2019 - 4
PLANADVISER - May/June 2019 - 5
PLANADVISER - May/June 2019 - 6
PLANADVISER - May/June 2019 - 7
PLANADVISER - May/June 2019 - 8
PLANADVISER - May/June 2019 - 9
PLANADVISER - May/June 2019 - 10
PLANADVISER - May/June 2019 - 11
PLANADVISER - May/June 2019 - 12
PLANADVISER - May/June 2019 - 13
PLANADVISER - May/June 2019 - 14
PLANADVISER - May/June 2019 - 15
PLANADVISER - May/June 2019 - 16
PLANADVISER - May/June 2019 - 17
PLANADVISER - May/June 2019 - 18
PLANADVISER - May/June 2019 - 19
PLANADVISER - May/June 2019 - Advisers' Future Trajectory
PLANADVISER - May/June 2019 - 21
PLANADVISER - May/June 2019 - 22
PLANADVISER - May/June 2019 - 23
PLANADVISER - May/June 2019 - 24
PLANADVISER - May/June 2019 - 25
PLANADVISER - May/June 2019 - Tangled
PLANADVISER - May/June 2019 - 27
PLANADVISER - May/June 2019 - 28
PLANADVISER - May/June 2019 - 29
PLANADVISER - May/June 2019 - 2019 PLANADVISER DCIO Survey
PLANADVISER - May/June 2019 - 31
PLANADVISER - May/June 2019 - 32
PLANADVISER - May/June 2019 - 33
PLANADVISER - May/June 2019 - 34
PLANADVISER - May/June 2019 - 35
PLANADVISER - May/June 2019 - High-Tech Meets High-Touch
PLANADVISER - May/June 2019 - 37
PLANADVISER - May/June 2019 - 38
PLANADVISER - May/June 2019 - 39
PLANADVISER - May/June 2019 - 40
PLANADVISER - May/June 2019 - 41
PLANADVISER - May/June 2019 - Whatever Suits
PLANADVISER - May/June 2019 - 43
PLANADVISER - May/June 2019 - 44
PLANADVISER - May/June 2019 - 45
PLANADVISER - May/June 2019 - New Platforms Support ETFs
PLANADVISER - May/June 2019 - 47
PLANADVISER - May/June 2019 - Major Cases
PLANADVISER - May/June 2019 - 49
PLANADVISER - May/June 2019 - Good News for P.R. Plans
PLANADVISER - May/June 2019 - Denial of Benefits
PLANADVISER - May/June 2019 - The Cost of Advising One's Own Plan
PLANADVISER - May/June 2019 - C3
PLANADVISER - May/June 2019 - C4
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