Here I am again writing about the retirement income challenge facing employees. Most recently it was Retirement Readiness: What Exactly Does That Mean? citing a recent study by the Society of Actuaries.

This time it’s another actuarial group taking a leadership role in the form of a recent Discussion Paper, the title of which I used for my headline, “Risky Business: Living Longer Without Income for Life”.

The Discussion Paper by the Lifetime Income Risk Joint Task Force of the American Academy of Actuaries offers up a number of approaches to remedies that include:

  1. Implement Federal Retirement Policies to Support Lifetime Income Needs
  2. Emphasize Financial Literacy and Education for Prospective Retirees
  3. Refocus Plan Design on Lifetime Income Needs

The first approach I’ll leave to our industry groups to advance. The second approach is one that you can expect to hear much more about from me. The third? That’s my responsibility to continue to work with employers and advisers who want to make a difference.
I’ve already started the conversation in this space:

Feel free to join in.
Jerry Kalish is President of National Benefit Services, Inc., a Chicago-based retirement consulting, actuarial, and administrative firm. He has been publishing The Retirement Plan Blog since 2006. He can be reached via email at

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