Steve Rosenthal, a senior fellow in the Urban-Brookings Tax Policy Center : 
“ The fundamental problem with our retirement system is that it rewards people who need no help,” 
Rosenthal said. All the schemes are oriented toward rewarding those with the savings or the income to 
reap the benefits.”

Ernst & Young Special Research Report Finds: 
Although facing challenges, the US life insurance and retirement industry has enormous growth potential. 1EY researchers estimate that by 2030, there will be a $240 trillion retirement savings and a $160 trillion protection gap.' Insurers are uniquely positioned to address these gaps with products that offer legacy protection, tax-deferred savings growth, and guaranteed income for life.  

 

1. The National Institute of Retirement Security:  The Champions of the 401(k) Lament the Revolution They Started The dominant retirement savings vehicle has fallen short of its early backers’ rosy expectations of longer life spans high fees, and stock-market declines. — Jan. 2017 

2. Ernst & Young Research Report: Protected retirement income solutions: What plan sponsors need to know about a new generation of offerings Authors Gaston Messineo, EY-Parthenon Americas Financial Services Leader. Christopher Bellow, EY Americas Retirement Income Leader — 22 Feb 2024 

3. BlackRock Financial Special Report: How to Optimize Your Retirement Income, 2024 

4. Time Magazine: Why It’s Time To Retire The 401(K) — “The ugly truth, though, is that the 401(k) is a lousy idea, a financial flop, a rotten repository for our retirement reserves” — By Stephen Gandel  

5. Looking for Guaranteed Lifetime Income? Join the Club — In case you didn't know, there is such a thing as a lifetime income club. Of course, it goes by another name: annuities. By MICHAEL FINKE, PH.D., Chief Academic Officer | The American College of Financial Services November 28, 2018 

6. Retirees Should Have More Annuities, Fewer Stocks Equities should be no more than 25% of your portfolio, says Robert Powell - July 14, 2011. 

7. The Washington Post: America’s utterly predictable tsunami of pension problems By: George F. Will 

8. CNBC: Millionaires see market volatility, inflation among biggest threats to wealth, CNBC survey Find— JUN 7, 2023  — Kate Dore, CFP® 

9. Bloomberg Opinion: “Your 401(K) Will Be Gone in 10 Years, Tops.” 

10. MoneyWatch: Retirement Planning course Corrections are to be considered by Steve Vernon on March 27, 2017. 

11. Ernst and Young (EY): How Can Life Insurance Companies Provide Differentiated Retirement Benefits? 10 Oct 2022 

12. National “Safe” Withdrawal Rate (SWR): Why 4 Percent Withdrawal Rate May Be Too High for Today's Retirees by Steve Vernon: Sunday, October 2, 2011 

13. “MSN Money” Article on the Safety of Life Insurance Companies 2-25-09 

14. Baby Boomers May Outlive Their 401K Savings. Here's Why… Published June 19, 2022, Anne Nova. 

15. Ernst & Young: The retirement landscape is evolving from asset accumulation to lifetime income solutions. The convergence of health, wealth, and protection products distributed through ecosystems will be key. 

16. BlackRock Financial: “Been there, Valued that: Annuity Owners on lifetime income benefits.”  (This study was conducted for BlackRock by Greenwald Research.) 

17. Time Business Magazine: How Safe is Your Insurance Company? By Sean Scully / Philadelphia Friday, Oct. 10, 2008 

18. Barclays: Investment Characteristics of F.I.A - By Robert Chiller, Ph. D. Yale University, Andrew Abramczyk, CFA. Shilpa Akella, & Tao Wen. March 2019. 

19. Goldman Sachs: Goldman forecasts a 3% annual return for the S&P 500 over the next 10 years, down from 13% in the last decade. 

20. CNBC: IRS aims to double its audit rate for wealthiest taxpayers in strategic plan Update. 

21. BlackRock Financial: 5 Forces Shaping Retirement. Anna Ackerley, KC Boas, Esme Fairbairn.  

22. Nasdaq News: Annuities Can Be A Great Way To Invest Safely. RTT News January 2012  

23. Ernst & Young: How life insurers are transforming to deliver value for better living  Patricia Davies EY Global Insurance Analyst Lead, Insights 

24. Investopedia: Women Say Retirement Is More Expensive Than They Expected