Dr. Alan Greenspan Calls for Baby Boomers to Take Action in Preparing for Retirement

Dr. Alan Greenspan - U.S. Federal Reserve Chairman (1997-2006) -
today encouraged Baby Boomers around the world to take more
responsibility to prepare for their retirement. Dr. Greenspan offered
his perspective as the keynote speaker at the MDRT Boomertirement(TM)
Industry Summit.

"We have to recognize that what we're going through is unique in
world history," said Dr. Greenspan. "Retirement is a relatively new
phenomenon. As a society we've dealt with it successfully in the past
few decades but we've never had such a huge group of individuals going
into the system at once and then living so long in their retirement
years."

Greenspan said the government will find it increasingly difficult
to keep all the financial promises it has made through Social
Security, Medicare and other programs in coming years. He added that
the longer we collectively wait to deal with these key issues, the
more difficult they will become to address.

Greenspan added that, as life expectancy continues to increase,
Baby Boomers will likely look for additional ways to remove the
financial uncertainties that will come from a longer retirement by
analyzing their lifestyle, determining the resources at their
disposal, and ultimately making decisions to best prepare for their
future.

Currently being held in New York City, the Boomertirement Summit
was convened by MDRT - a leading non-profit association representing
35,000 financial services professionals around the world - to help
lead the development of solutions to the looming Baby Boomer
retirement crisis. The event brought together top economists,
scholars, financial services industry leaders and other thought
leaders for two days of presentations and interactive discussions.

"The Boomertirement Industry Summit was designed to help
facilitate solutions to the looming Baby Boomer retirement crisis -
and to encourage the financial services community and Boomers to work
together to implement those solutions. At the end of the day, taking
any action to better prepare for retirement is better than doing
nothing," said MDRT President Philip E. Harriman, CLU, ChFC - a
retirement, investment and estate planning advisor from Yarmouth, Me.
"Dr. Greenspan's unmatched insight and unique perspective on economic
issues - and his ability to create awareness and prompt action - will
certainly help us meet that goal."

ABOUT MDRT AND BOOMERTIREMENT

MDRT is The Premier Association of Financial Professionals.
Founded in 1927, MDRT is an international, independent association of
more than 35,000 or less than 1 percent, of the world's best life
insurance and financial services professionals. With membership from
77 nations and territories, MDRT members demonstrate exceptional
professional knowledge, strict ethical conduct and outstanding client
service. MDRT membership is recognized internationally as the standard
of sales excellence in the life insurance and financial services
business.

By hosting the Boomertirement Industry Summit, MDRT is providing
leadership that will help the financial services industry provide
solutions that will encourage the biggest generation in history - Baby
Boomers - to take action to navigate the financial challenges they
confront as they retire.