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Senate Proposal Suggests National Approach to Retirement Policy--Actuaries Weigh In on the Potential Challenges and Benefits


WASHINGTON, July 12, 2019 /PRNewswire/ -- Legislation introduced in the U.S. Senate in spring 2019 to create a federal Commission on Retirement Security raises the question of what a cohesive national policy framework for the U.S. retirement system could look like, a concept that the American Academy of Actuaries explores in a new, nonpartisan issue brief.

American Academy of Actuaries. (PRNewsFoto/American Academy of Actuaries)

"A national retirement policy framework would aim to provide a more coordinated and inclusive system that helps more people better prepare financially for retirement, as opposed to the piecemeal approach that exists today," said Eric Keener, chairperson of the Academy's Retirement System Assessment and Policy Committee whose members authored the paper, National Retirement Policy & Principles. "If policymakers decide to pursue a national framework, they'd need to address familiar challenges to retirement security, as well as weigh the benefits, complexities, and costs of establishing a new framework."

Policymakers would need to consider:

Read the issue brief and learn more about the Academy's work on retirement issues under the "Public Policy" tab at actuary.org.

The American Academy of Actuaries is a 19,500-member professional association whose mission is to serve the public and the U.S. actuarial profession. For more than 50 years, the Academy has assisted public policymakers on all levels by providing leadership, objective expertise, and actuarial advice on risk and financial security issues. The Academy also sets qualification, practice, and professionalism standards for actuaries in the United States.

 

SOURCE American Academy of Actuaries


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