Senate Legislation Pleases ASR
Senate legislation that was recently introduced is drawing praise from the Americans for Secure Retirement (ARS). The legislation was introduced by Senator Pat Roberts and Senator Kent Conrad and is called The Retirement Security for Life Act, S. 1297.
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If the legislation passes, the ASR believes that it will result in Americans having more financial security in retirement. The ASR also believes that it will provide a paycheck that is guaranteed for life.
Said Bill Waldie of ASR: "This legislation is a critical component of retirement policy and we are pleased that Congress is making helping Americans secure a financially sound retirement a priority. This is an important step toward addressing the anxiety many Americans feel toward their financial outlook during retirement."
The ASR recently conducted a study that had ominous results. According to the study, more than half of middle-income Americans will outlive their available finances unless they make severe changes to their standard of living.
"With the recent economic downturn, Social Security replacing less and less of pre-retirement income, pensions on the decline and lifespan on the rise, people need access to many different retirement options," stressed Waldie.
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