The Investment Company Institute (ICI) has launched a new website, FactsOnRetirement.org, which highlights its research and suggests that America’s retirement system is strong.
The site takes on myths about the system and offers tips for those who want to learn more about saving for retirement.
“ICI has a team of experts dedicated to studying the U.S. retirement system, and FactsOnRetirement will help make their work more readily available and easily accessible to the growing body of academics, policymakers and the public who are engaged on this important issue,” says ICI President and CEO Paul Schott Stevens. “Whether you’re new to this issue or a seasoned expert, we believe this site will be a valuable resource that shows how we can build on the strengths of the current system to enhance retirement savings and security in the United States.”
The site has four sections. The “Retirement by the Numbers” section highlights ICI research. The section notes that total retirement assets have increased from $469 billion in 1975 to $28 trillion today, seven times as much, per household, after inflation.
The “Myth vs. Fact” section dispels some misleading claims about the retirement system. For instance, while it is often said that most workers are not covered by a workplace retirement plan, nearly three-quarters of individual tax filers with incomes of $20,000 or more and joint filers with incomes of $40,000 or more participate in retirement plans either directly or through a spouse.
The “Tips for Savers” offers a step-by-step explanation of how workers can take better advantage of workplace retirement plans, and the “Additional Resources” directs viewers to more extensive research and source materials that can be found at ICI.org.