One of the biggest risks to a secure retirement could be unrealistic expectations, particularly about how much money one will need to maintain the living standard that was the norm while working full time, according to an AXA executive who spoke today at The School Superintendents Association (AASA) meeting in Phoenix.

Making use of professional advice can have measurable benefits on the retirement resources that savers might accumulate. According to an AXA study of 403(b) plan participants, those who used an advisor had approximately 34 percent higher median account balances than those who did not.

“You or your spouse may live to be 90 or 95 years old – do you have enough money to live more than 25 years in retirement?” asked Fred Makonnen, a regional vice president with AXA Advisors.

Makonnen’s remarks were part of his research round table presentation on “Retirement Challenges, Solutions & the Role of the Plan Sponsor” during the AASA’s National Conference on Education. The conference expects about 2,000 attendees.

Makonnen said that, in his experience, about half of the people he has worked with actually expect their expenses to decrease in retirement and that well over two-thirds actually don’t know how much they’ll need at retirement, nor have they developed a written retirement plan.

Makonnen recommended that people start preparing for longevity by starting to set aside retirement funds now, increasing their current contributions, and perhaps even working longer.

“Helping educators do their best with students every day requires that they feel comfortable with their financial futures as well,” said Michael Phifer of Maslansky and Partners, a consulting firm that also participated at the round-table session.

AXA is a lead sponsor of the AASA event.

About AXA

“AXA” is a brand name of AXA Equitable Financial Services, LLC and its family of companies, including AXA Equitable Life Insurance Company (NY, NY), MONY Life Insurance Company of America (AZ stock company, administrative office: Jersey City, NJ), AXA Advisors, LLC, and AXA Distributors, LLC. In business since 1859, AXA Equitable Life Insurance Company is a leading financial protection company and one of the nation’s premier providers of life insurance, annuity, and financial products and services distributed to individuals and business owners through its retail distribution channel, AXA Advisors, LLC (member FINRA, SIPC) and to the financial services market through its wholesale distribution channel, AXA Distributors, LLC.

AXA S.A. is a Paris-headquartered holding company for a group of international insurance and financial services companies, including AXA Equitable Financial Services, LLC companies. AXA S.A. is a worldwide leader in financial protection strategies and wealth management with 103 million clients in 59 countries as of Dec. 31, 2014. AXA S.A. has been ranked the No. 1 insurance brand in the world by Interbrand for seven consecutive years as of Oct. 5, 2015.

The obligations of AXA Equitable Life Insurance Company and MONY Life Insurance Company of America are backed solely by their claims-paying ability. Find AXA on Facebook, Twitter and LinkedIn. For more information, visit www.axa.com.

GE-111443 (2/16)(Exp. 2/18)

Media:AXAJohn Cline, (212) 314-5142john.cline@axa.us.com

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