Boston College and the National Retirement Risk Index

Since 2006, we've partnered with the Center for Retirement Research at Boston College. That partnership helps us better understand retirement planning so we can help Americans keep up-to-date on the changing retirement landscape.

We've leveraged this partnership to help customers learn how to measure their retirement readiness and to give them information that can help them meet their retirement goals – regardless of their health status or where they fall on the savings continuum.

What is the National Retirement Risk Index (NRRI)?

Funded by a grant from Nationwide, the National Retirement Risk Index was first released in June '06 and is updated annually.

The Index has revealed the stark reality of a nation at risk. It defines “at risk” to mean households that will fall at least 10% short of their income target in retirement.

In 2007, the NRRI found that 44% of all U.S. households were at risk of not being able to maintain their current standard of living through retirement.

The update in October ‘09 includes assumptions about the effect of the economic turmoil. It finds that 51 percent of Americans are not prepared to retire at age 65. This is a conservative estimate, because it doesn't factor in the costs of health care or long-term care.

Learn more about the NRRI and the Center for Retirement Research at Boston College.

Why did Nationwide choose to underwrite the Index?

We're concerned about the financial well-being of Americans as they prepare for and enter retirement.

We sought an independent measure that would spark debate in the industry and with legislators. And, most importantly, lead to improvements in the financial standing of Americans collectively and individually.

Many consumers are skeptical about listening to financial services companies like Nationwide. Why should they trust you?

We believe it's our duty as a financial services company to help consumers make informed decisions about their financial security.

But, we understand that they wouldn't be comfortable in simply trusting our opinions in these important discussions. That's why we began our association with Boston College and their Center for Retirement Research. And that's why we funded development of the National Retirement Risk Index.

Before they developed the NRRI, there wasn't a third-party, quantitative, comprehensive measure of the nation's retirement readiness. Now consumers can look to academic experts like the Center for objective, credible data.

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