Pictured Above: Alicia H. Munnell, the Peter F. Drucker Professor of
Management Sciences at Boston College Carroll School of Management.
standard of living. The 2008 crisis meant
the retirement savings, which were
already too small, got even smaller—this
exacerbated the retirement savings issue
in America.
In order to measure retirement
preparedness, the CRR created a tool
called the National Retirement Risk
Index. Every three years a different
sample of people is taken from the
Federal Reserve’s Survey of Consumer
Finances (which represents a national
sample of households) and a projection
is made to determine what their incomes
will be in the future when they are of
retirement age. A comparison is made
between the target benchmark and their
projected future income to determine
how many people have fallen short.
Eschtruth explained this index was
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