With mounting concern over the looming retirement of 78 million U.S. Baby Boomers, MDRT, NAIFA, and FSP have founded the Partnership for Retirement Education and Planning (PREP). Other organizations, including AALU, AHIA, IMSA, LIFE, NAILBA, WIFS, GAMA International and ACLI also have joined together in support of PREP.
PREP is an unprecedented teaming of non-profit organizations representing more than 200,000 financial services professionals. Through this partnership members are working to provide awareness and community education that will empower Boomers to take action in preparing for retirement – regardless of their economic situation.
An important component of this program is the Financial Dignity Bill of Rights that is endorsed by all PREP organizations. The Bill of Rights holds that each individual has the opportunity and obligation to secure their own financial well-being, supported by certain rights, including:
- The right to participate in employer sponsored plans, if offered.
- The right to receive governmental benefits, if eligible.
- The right to receive ethical and honest counsel from trained and capable financial professionals.
- The right to financial solutions involving appropriate plans, products and fair, ethical practices from providers of financial services.
I encourage all MDRT members to get involved with this initiative that officially launched today with the PREP Web seminar. In the coming weeks we will share an archive of the Web seminar if you missed the live event. In the meantime, please visit www.PREPpartnership.com to learn more about PREP and the Boomer Outreach section of the Boomertirement Web site to find valuable communications tools for reaching out to Boomers in your community.
