EBRI launches new retirement financial tool

(Washington, D.C.) – In honor of National Retirement Security Week (Oct. 16th - 22nd), the Employee Benefit Research Institute (EBRI) announced today the launch of a re-envisioned Ballpark E$timate calculator to help individuals estimate their savings needs and future spending during retirement.

Originally launched as a part of the EBRI Emmy award-winning “Choose to Save” campaign, the Ballpark E$timate has been redesigned to better help people connect with their future retired selves -- and be more apt to engage and take steps to improve retirement outcomes. The new Ballpark E$timate asks users to consider their current state of retirement savings and then to envision what their retirement might look like.  Based on an analysis from the Health and Retirement Study, the tool categorizes users -- much like an online personality-type quiz would -- providing insight into their potential retirement lifestyle.

“The Ballpark E$timate is the first tool of its kind to actually show people how they are likely to spend their money in retirement and to consider whether that’s the retirement they aspire to,” said Lori Lucas, president and CEO, EBRI.  “The goal is to galvanize people to better plan for their future.”

“Our organization is honored to make EBRI’s launch of the new Ballpark E$timate tool possible.  The RRF Foundation for Aging is committed to improving the quality of life for older people. With the release of Ballpark E$timate, we are proud to help EBRI create a bridge to a better retirement for all workers,” said Mary O’Donnell, president, RRF Foundation for Aging.

To utilize the new EBRI Ballpark E$timate tool, visit https://www.ebri.org/ballpark-estimate.

The Employee Benefit Research Institute thanks the RRF Foundation on Aging for its support on this project, as well as members of EBRI’s Retirement Security Research Center for input on this important initiative.

The Employee Benefit Research Institute is a non-profit, independent and unbiased resource organization that provides the most authoritative and object information about critical issues relating to employee benefit programs in the United States.  For more information, visit www.ebri.org.