Solash said retirement planning in the U.S. has yet to adequately adjust for an aging population, a decline in pension benefits and longer lifespans. “As a country, we have to face the fact that relying on savings alone will leave many at risk of running out of money during their golden years," he said in a prepared statement. "We must fundamentally change how we talk about retirement and replace what has been more of a singular focus on savings with a broader perspective that also includes protected lifetime income sources like annuities as part of an overall retirement plan."