Wednesday, October 29, 2014

Upcoming event: “AARP - Better Financial Security in Old-Age? The Promise of Longevity Annuities”

Public Policy Economic Security Update

AARP Public Policy Institute


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Better Financial Security in Old-Age?
The Promise of Longevity Annuities

November 6, 2014
10:00 AM - 12:00 PM EST
The Brookings Institution
Washington, DC

David John, Deputy Director of the Retirement Security Project and senior advisor at the AARP Public Policy Institute, is one of the featured speakers at the event described below.

Better Financial Security in Old-Age? The Promise of Longevity Annuities

Longevity annuities-a financial innovation that provides protection against outliving your money late in life-have the potential to reshape the retirement security landscape. Typically bought at retirement, a longevity annuity offers a guaranteed stream of income beginning in ten or 20 years at a markedly lower cost than a conventional annuity that begins paying out immediately.

Sales have grown rapidly and it will be even easier to purchase the annuities in the future given new Treasury regulations. While economists have touted the attractiveness of longevity annuities as a way to ensure the ability to maintain one's living standards late in life, significant barriers to a robust market remain-including lack of consumer awareness, questions about product value, and employer concerns with taking on fiduciary responsibility by offering these products to their employees.

Can longevity annuities overcome these barriers to find widespread popularity among Americans retirees? On November 6, the Retirement Security Project will host a panel of experts to discuss the potential for these products to contribute to the economic security of older Americans.  Speakers include William Gale, David John, Henry J. Aaron, David Wessel, Benjamin Harris, Mark Iwry and more.

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