Mathew Greenwald

This report was designed to assess retirement literacy among individuals who are nearing or already in retirement. More specifically, the goal was to determine whether retirees and pre-retirees have the knowledge they need to successfully plan for a financially secure retirement. The report also shows gender differences when it comes to retirement income literacy.

The American College New York Life Center for Retirement Income asked Greenwald & Associates to conduct the 2017 RICP^® Retirement Income Literacy Survey, a comprehensive survey testing retirement income literacy. The goal was to determine whether retirees and pre-retirees have the knowledge they need to successfully plan for a financially secure retirement. This survey is a follow-up of the 2014 RICP^® Retirement Income Literacy Survey, which had a similar methodology and questionnaire.

Upon retiring, individuals face a number of decisions that must be made within a relatively short period of time. One of the most important decisions is what to do with assets in an employer-sponsored defined contribution plan. But just how important do recent retirees regard this decision? How do they decide what to do with their plan assets? And how well are they planning for their retirement?

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