Retirement Savings Challenges and Solutions Consumer Federation of America Financial Services Conference 12/6/2013

Moderator and Panelist: Dallas Salisbury, EBRI Panelists: Elaine Sarsynski, Mass Mutual Lisa Mensah, The Aspen Institute David John, AARP

% Sponsorship, Participation and Vesting 1940-2012

Sources of Income, Americans Age 65 and Older, 1974 and 2012 Sources: EBRI estimates from the 1975 and 2013 Current Population Surveys.

How Big Do Balances Need to Be for 100% Replacement? Sunday, May 20, 2018 How Big Do Balances Need to Be for 100% Replacement? Income distribution of those age 65 and older in 2010—$ to achieve 100% income replacement with annuity purchase. Percentile By Income SSA Income SS Repl. % Income to reach 100% IMA.com* 25th $10,757 92% $860 $12.5K 50th $18,000 84% $2,880 42K 75th $33,600 57% $14,448 210K 14.4% had income of $50,000 or more IMA.com quotes on September 13, 2011 for female age 65 in GA not inflation indexed no guarantee period no survivor benefit First level Second level Third level Fourth level Fifth level

Quintiles of 2010 year end 401(k) balances for ages 60-65 by tenure category

Moderator and Panelist: Dallas Salisbury, EBRI Panelists: Elaine Sarsynski, Mass Mutual Lisa Mensah, The Aspen Institute David John, AARP