2007 Risks and Process of Retirement Survey Report of Findings
October 2007
Prepared by
Mathew Greenwald & Associates, Inc.
Employee Benefit Research Institute
Description
This report presents the results of a telephone study among Americans aged 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 in retirement, 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 fourth study sponsored by the Society of Actuaries that focuses on these issues. The first was conducted in August 2001, before both the events of September 11 and the substantial declines in investment markets. The second study was conducted in August 2003 and the third in June–July 2005. The 2007 study includes some of the questions asked in the previous iterations but also skips some of the previous questions in order to make room for new observations. Emphasis was placed on areas where there is not a great deal of information available from other studies. In particular, the portions of the study focused on the risks at different stages of retirement were expanded significantly. While Americans over age 80 were included in the 2001 study, the decision was made to exclude them in subsequent iterations of the study.
Material
Key Findings and Issues–Understanding and Managing the Risks of Retirement
Key Findings and Issues–Phases of Retirement
Key Findings and Issues–Health and Long–Term Care Risks in Retirement
Handouts from webcast on the 2007 Retirement Risk Survey
Questions or Comments?
If you have comments or questions, please send an email to research@soa.org