In a letter to the Federal Insurance Office today, the Insured Retirement Institute encouraged the FIO to focus on the insurance regulatory system in the context of the current state of retirement savings in America and the need for consumers to insure against the risk of outliving their assets as part of any assessment of the regulation of the insured retirement industry.
The letter was in response to the FIO's request for "Public Input on the Report to Congress on How to Modernize and Improve the System of Insurance Regulation in the United States."
"Seventy-nine million Baby Boomers today face immediate and unprecedented retirement income challenges—challenges that simply did not exist in earlier generations," stated IRI President and CEO Cathy Weatherford in the response letter.
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