Retirement Software

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2003 Retirement Planning Software Study: Not All Programs Are Alike

BABY-BOOMERS FACE TOUGHER CHALLENGES DURING RETIREMENT THAN PREVIOUS GENERATIONS. Longer life-spans, earlier retirements, rising health-care costs and fewer traditional employer-sponsored pensions pose greater risks to current and future retirees.

InFRE proudly took part in a study, together with LIMRA International and the Society of Actuaries, that evaluated various retirement planning software programs. The study looked at the risks of retiring in today’s environment and identifies ways that software programs can adapt to the pending post-retirement period.

To see how the software stacked up, download the full report.

The project examined 19 retirement software programs, some designed for consumers and others for professional advisors. The study tested the programs for such factors as ease of use, quality and clarity of results, capabilities and treatment of risks.

Here are some key findings:

• Programs give a wide range of answers about when a retiree will run out of money.
• The software can do more to help people understand and deal with post-retirement risks.
• Programs vary in their ability to handle different personal or tax situations such as home ownership and two- earner couples with two sets of benefits.

While the report does not compare or rate the programs, it does make recommendations for using and improving retirement planning software.

Read the full report here.