In its most recent Retirement Confidence Survey

(RCS), the Employee Benefit Research Institute found

that retirees are becoming more confident in their

ability to afford a comfortable retirement. Worker

confidence, on the other hand, stabilized.

Meanwhile, worker expectations about various aspects

of retirement continued to differ from the realities faced

by today’s retirees.

Our new client alert examines these findings.

The RCS also revealed several points that may be

particularly interesting to financial professionals,

including: ● When leaving an employer, 38% of workers

and 44% of retirees rolled their retirement

plan money into an IRA. Half of workers and

38% of retirees put the money in the same

type of investment after it was rolled over. ● 44% of workers and 45% of retirees who

participated in a retirement savings plan with

a former employer received advice on what to

do with the money. For both groups, the most

common source of this advice was a

professional advisor. ● About 70% of workers said they were at least

“somewhat” likely to seek advice from an

advisor on assets they currently hold in their

retirement savings plan. By comparison, 43%

said they would use an online or telephone

advice service. ● Just 17% of workers and 6% of retirees said

they were “very” or “somewhat” interested in

receiving advice via an online service. 83% of

retirees are “not at all” interested in online

advice. ● 38% of workers say they are “very” or

“somewhat” interested in purchasing an

insurance product that provides guaranteed

income later in life (e.g., starting at age 80 or

85); 75% of retirees say they are “not at all”

interested. ● Nearly half of workers said they are at least

“somewhat” interested in long­term care

insurance; 61% of retirees are “not at all”