A Retirement Index is an age-based index designed to help future retirees measure retirement readiness and plan for future income goals.
What is a Retirement Index, and what are best practices, tools and templates for teams and organizations?
Definition of Retirement Index
Description of Retirement Index
The Retirement Index seeks to track the estimated cost of a dollar of future retirement income. It is an attempt to examine the factors that drive retirement security and to provide a comparison tool for creating a retirement plan. They also help you to measure how well you’re doing relative to achieving your retirement income goal and can help put you in a better position to take corrective action.
The Retirement Index reflects the estimated cost of one dollar of annual lifetime income in retirement. The index level incorporates five types of real-world, current data:
- Starting Level
- Interest Rates
- Life Expectancy
With this data, the Retirement Index can project the amount of savings one needs in order to provide the future income goal of the retiree.
Tools & Templates
Specific tools used in a Retirement Index include inflation rates, interest rates and projected economic conditions.
upBOARD's Online Retirement Index Tools & Templates
upBOARD’s online Retirement Index tools allow any team or organization to instantly begin working with our web templates and input forms. Our digital platform goes far beyond other software tools by including progress dashboards, data integration from existing documents or other SaaS software, elegant intuitive designs, and full access on any desktop or mobile device.
Learn more about upBOARD’s portfolio of other human resources best practice tools and templates, including:
Career Planning, Change Management, Communication Management, Competency-Based Interviewing, Critical Incidents, Culture Mapping, Delphi Method, Employee Engagement Surveys, Executive & Leadership Coaching, Growth Mindset, Herzberg’s Two-Factor Theory, Job Analysis, Job Description, Learning and Growth Perspective, Mentoring, Performance Management, RACI, Resource Breakdown Structures (RBS), Retirement Index, Skills Requirement Checklist, Stakeholder Analysis, and Workday Task Analysis.