Data & Research March 20, 2012

One-Third of Americans Have Hope for a Secure Retirement

Thirty-five percent of Americans think it is possible for a middle-income family to save for a secure retirement. 
Reported by

According to a COUNTRY Financial survey, this is up six points from this time last year, and the first increase in five years. This increase may be because many Americans did not have to postpone their retirement as a result of the economic downturn, and people are also taking positive steps to finance their golden years.

Nearly four in 10 (36%) will not have to delay their retirement as a result of the economic downturn. Fifty-seven percent either maintained or increased the amount they contribute to their nest egg, a three-point increase from last year.

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However, others are confronting new realities of retirement caused by years of economic instability. A quarter of Americans must delay their retirement by three years or more. This instability might also be why a majority (55%) expect to take a part-time job during retirement to augment their savings.

Social Security Uncertainty Weighs on Americans 

The ongoing debate about the future of Social Security might be impacting how Americans factor it into their overall nest egg. Just one-third are confident Social Security will pay them all of their promised benefits. Those in the Gen X age group are the least confident. Just 14% of those ages 30 to 39 and 26% of those ages 40 to 49 believe they will receive their promised benefits.

Forty-one percent of those with a financial planner say less than one-quarter of their retirement income will come from Social Security. Only 25% of those without a planner say the same.

The COUNTRY survey on retirement is based on a national telephone survey of 3,000 Americans and is compiled by Rasmussen Reports, LLC. 

Deals & People March 20, 2012

Great-West Appoints Regional Sales Director

Great-West Retirement Services appointed Carey Lindsey as regional sales director for Houston. 
Reported by

Lindsey will work with brokers, financial advisers, consultants, wirehouses and third-party administrators (TPAs) to offer Great-West 401(k) plans and services to Houston-area businesses. He is based in Sugar Land, Texas, and reports to Joe Smolen, West Region vice president.

Before joining Great-West, Lindsey served as regional vice president with Transamerica Retirement Services from 2007 to 2012. In this role, he was responsible for growing Transamerica’s corporate pension plan business.

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From 1996 to 2006, Lindsey was primarily employed at Loren D. Stark Company Inc., a TPA based in Houston. His most recent role was serving as president and director of business development from 2002 to 2006. He briefly left Loren D. Stark from 2001 to 2002 to serve as project manager, implementation, mergers and acquisitions, with Fidelity Institutional Retirement Services Company.

Lindsey earned a bachelor’s degree in finance from the University of New Orleans. He holds NASD Series 6 and 63 licenses. He also holds life, accident and health insurance licenses in Texas. Lindsey earned a Qualified 401(k) Administrator from the American Society of Pension Professionals & Actuaries and an Accredited Investment Fiduciary designation through fi360.

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