Our current retirement system was established decades ago when pensions were prevalent, life expectancy was lower and fewer people utilized Medicare and Social Security.
The results of a study conducted by the global research firm, Morning Consult in collaboration with the Certified Financial Planner (CFP) Board of Standards, showed only 25% of Americans feel prepared for retirement. One in four people believe saving for retirement is too complicated and 30% of employees don’t know whether or not their employer offers a retirement plan.
In an effort to try to improve the retirement system, the CFP Board along with Fred Reish, an internationally known expert in retirement issues and a partner with Drinker, Biddle, will head a committee tasked with drafting recommendations for policy makers on how to improve the system.
According to a press release issued May 8th, a “blue-ribbon panel of CFP® professionals” will be put together “offering real life experiences” to help shape the recommendations. We are pleased to announce that Jill Hollander has been asked to participate on this panel.