401(k)s Have Turned Into ATMs For Many Americans

Survey by @The_RGA and @LIMRA reveals that annuity companies averaged 4.2 new product dev efforts in 2014. 43% were VAs. #RetireConf

— InsuranceNewsNet (@InsNewsNet) May 6, 2016

A plan for clients to use liquid savings 1st, a deferred income annuity at, age 85 on, can be better option. @LIMRA research. #RetireConf

— InsuranceNewsNet (@InsNewsNet) May 6, 2016

Only 30% of people expect to retire at 62, but 65% do, said @LIMRA reseacher Chris Moeder. How can we get people to save more? #RetireConf

— InsuranceNewsNet (@InsNewsNet) May 6, 2016

Harvard prof David Laibson kicks off day 3 of #RetireConf talking about "leakage" from retirement accts. @LIMRA pic.twitter.com/VcgBIi01zL

— InsuranceNewsNet (@InsNewsNet) May 6, 2016

401k system has "become the ATM we turn to when we need cash," says David Laibson of @Harvard. Auto enroll needed. #RetireConf

— InsuranceNewsNet (@InsNewsNet) May 6, 2016