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Industry: Email Alert RSS FeedAwareness grows of urgency of retirement issues. (federal government must face approaching retirement of baby boom generation)(Column)
National Underwriter Property & Casualty-Risk & Benefits Management, July, 1996 by Fisher, Mary Jane
A full-page ad in The Hill, a Capitol Hill weekly newspaper read by members of Congress and their staffers, caught my eye. "The generation that didn't plan on growing old is now facing a retirement it can't afford," said the ad, reflecting "the view from Merrill Lynch." Under the heading was a cartoon of a crowd of "hippies," with one holding a poster proclaiming "Love" and another with a poster bearing the peace sign of the anti-Vietnam war days.
Merrill Lynch said its fourth annual Baby Boomer Retirement Index indicates "a massive shortfall in saving for retirement by Baby Boomers, the 76 million people born between 1946 and 1964." The study found that baby boomers need to triple their rate of saving to ensure a secure retirement and to avoid facing a...
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