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- Title
Financial Literacy and the Challenges of the Postretirement Period.
- Authors
Rappaport, Anna M.; Siegel, Steven
- Abstract
The Society of Actuaries has undertaken a significant number of integrated research efforts to identify risks associated with the postretirement period, understand the general public's awareness and perception of those risks over time, and determine approaches used to manage them. This article reviews the categories and specific types of risks identified, observations from Society of Actuaries research about the extent to which they are recognized and acted upon, and challenges that gaps in financial literacy create for managing them. Recommendations to improve financial literacy through employers and others providing benefit guidance are also discussed. The recommendations draw upon testimony presented to the Employee Retirement Income Security Act (ERISA) Advisory Council in 2007.
- Publication
Benefits Quarterly, 2009, Vol 25, Issue 3, p7
- ISSN
8756-1263
- Publication type
Academic Journal