2003 Risks and Process of Retirement Survey Report of Findings
January 2004
Prepared by
Mathew Greenwald & Associates, Inc.
Employee Benefit Research Institute
Description
This report presents the results of a telephone study among Americans ages 45 to 80 conducted by Mathew Greenwald & Associates, Inc., and the Employee Benefit Research Institute (EBRI) on behalf of the Society of Actuaries. The purpose of the study was to evaluate Americans’ awareness of potential financial risks, how this awareness impacts the management of their finances with respect to retirement and how Americans are managing the process of leaving the workforce.
This is the second study sponsored by the Society of Actuaries that focuses on these issues. The earlier study was conducted in August 2001, before the major terrorist attack and before substantial declines in investment markets. The 2003 study includes some of the same questions asked in 2001, but also skips some of the original questions in order to make room for new learning. Emphasis was placed on areas where there is not a great deal of information available from other studies. In particular, the portion of the study focusing on managing the process of retirement has expanded significantly. Finally, the decision was made to exclude those over age 80 from the 2003 study because it is unlikely that risk management is significant factor in these people’s financial management.
Materials
Key Findings and Issues–Risks of Retirement
Key Findings and Issues–Process of Retirement
Questions or Comments?
If you have comments or questions, please send an email to research@soa.org