American workers are increasingly recognizing the importance of retirement income, yet many are not yet in a position to take action to ensure their financial security, according to the 2014 Retirement Confidence Study released recently by the Employee Benefit Research Institute and Greenwald & Associates.

The survey found that 85 percent of respondents contributing to an employer-sponsored retirement plan found a product like the Department of Labor’s Lifetime Income Estimate Calculator— which estimates monthly lifetime income based on a participant’s current account balance, contributions to their account and the projected value of the account balance at retirement— to be useful.

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