American Council of Life Insurers (ACLI) Recognizes President Trump’s Focus on Americans’ Retirement Security

WASHINGTON - American Council of Life Insurers (ACLI) President & CEO David Chavern made the following statement about President Trump's focus on retirement in his State of the Union address:

"President Trump's spotlight on retirement security comes at an important time. More than 30 million Americans will turn 65 in the next five years. Many fall short on saving for retirement.

"Helping people build financial security through retirement is a priority for life insurers. We backed the bipartisan SECURE Act signed into law by President Trump in 2019. This landmark retirement legislation-the first in 13 years-gave 12.6 million more workers, including nearly 6 million from small businesses, access to retirement plans.

"We're ready to build on the progress of the SECURE Act, SECURE 2.0 that was enacted in 2022, and the Trump accounts created last year to further strengthen Americans' retirement security and turn hard-earned savings into lasting financial stability."

The American Council of Life Insurers (ACLI) is the leading trade association driving public policy and advocacy on behalf of the life insurance industry. 90 million American families rely on the life insurance industry for financial protection and retirement security. ACLI's member companies are dedicated to protecting consumers' financial wellbeing through life insurance, annuities, retirement plans, long-term care insurance, disability income insurance, reinsurance, and dental, vision and other supplemental benefits. ACLI's 275 member companies represent 94 percent of industry assets in the United States.