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Did You Know?

That, as of the first quarter 2011, the combined net assets of U.S. variable annuities were valued at nearly $1.6 trillion, an 11% increase from first quarter 2010 and the highest level ever recorded?
In 2010 fixed annuity assets were valued at $659 billion a 6% increase from 2009?
That in 2010, the total average expense difference between variable annuities and mutual funds was 1.01%?
In 2011, the contribution limits range from $5,000-$6,000 for an IRA, $16,500-$22,000 for a 401(k) and $200,000 plus for a non-qualified annuity?
That the average number of funds per variable annuity contract was 50 in 2010, of which 47% of assets were invested in equities, 11% in bonds, and 20% in fixed-rate accounts?
That the guaranteed lifetime withdrawal benefit was offered on 79% of variable annuities in 2011 and was elected by 65% of contract holders?
Boomers who own annuities have a higher confidence in retirement expectations, with 92% believing they are doing a good job in preparing for retirement?

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IRI to Sponsor “National Retirement Planning Week®” in April

03.11.2010

The New Retirement Reality: IRI to Sponsor "National Retirement Planning Week®" in April

Boston College, ACLI, ASR to Lend Support Raising Awareness

About the Critical Importance of Retirement Planning

WASHINGTON, D.C. - The Insured Retirement Institute (IRI) today announced that it will once again sponsor National Retirement Planning Week® this April during Financial Literacy Month. Taking place from April 12-15, IRI's planned outreach throughout the week will raise public awareness of the need to comprehensively plan for retirement. The Center for Retirement Research at Boston College, the American Council of Life Insurers (ACLI) and Americans for a Secure Retirement (ASR) are supporting this week as well.

"A crisis in retirement readiness exists today, as Americans - still reeling from the effects of the recession - dramatically underestimate the income needed to support their envisioned retirement lifestyles," said IRI CEO and President Cathy Weatherford. "The retirement readiness crisis is due to shattered investor confidence, diminished savings, longer life spans and the declining role of Social Security and pensions. IRI hopes to help jumpstart the retirement planning process by highlighting areas of key consideration during this week, while providing tips and tools that can help streamline the process. IRI will then continue to advance the dialogue in the weeks and months ahead, offering resources to both consumers and financial professionals alike, in order to help them stay focused on long-term financial goals."

A founding member of Americans for a Secure Retirement, IRI has enlisted the support of coalition members to help foster a greater understanding of the myriad of challenges - and opportunities - that can arise when planning for retirement. Boston College, ACLI and ASR are among those joining forces to spotlight the week-long outreach effort to both consumer and financial professional audiences.

Educational materials will be made available in conjunction with the daily themes, and IRI will be increasing overall awareness through a 60-second nationally distributed radio spot, as well as op-eds in community newspapers nationwide and an online presence.

National Retirement Planning Week Themes:

Monday, April 12 - The New Retirement Reality
Tuesday, April 13 - Top 10 Ways to Prepare for Retirement
Wednesday, April 14 - Maximizing your Social Security benefits
Thursday, April 15 - Retirement Savings Mechanisms with Tax Preferred Status

About the Insured Retirement Institute: The Insured Retirement Institute (IRI) is a not-for-profit organization and is the authoritative source of all things pertaining to annuities, insured retirement strategies and retirement planning. IRI exists to vigorously promote consumer confidence in the value and viability of insured retirement strategies, bringing together the interests of the industry, financial advisors and consumers under one umbrella. IRI's mission is to: encourage industry adherence to highest ethical principles; promote better understanding of the insured retirement value proposition; develop and promote best practice standards to improve value delivery; and to advocate before public policy makers on critical issues affecting insured retirement strategies. Visit www.IRIonline.org to experience the new, vast resources of the new Insured Retirement Institute for yourself.

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Contact:
Danielle Holland
DHolland@irionline.org
202-469-3000

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