Trustees and administrators of Texas public employee retirement systems plan for service across decades. A new national study reveals that many Americans are not adopting the same long-term perspective. The inaugural Longevity Preparedness Index highlights significant gaps in people's readiness for extended lifespans. The Index was developed by John Hancock and the MIT AgeLab. Its findings have direct implications for the public employees who rely on defined benefit plans, including law enforcement officers, firefighters, EMTs, librarians, utility workers, and municipal staff across Texas.

How the Research Was Conducted

The Longevity Preparedness Index is based on a nationally representative survey of 1,307 adults conducted by NORC at the University of Chicago. Participants were drawn from the AmeriSpeak Panel and completed the survey online or by phone between May 14 and June 5, 2025. Responses were weighted to represent the United States population.

Preparedness was evaluated across eight domains: health, finances, home, care, daily activities, social connections, community, and life transitions. Each domain received a score from 0 to 100. The overall Index score is the average of the eight categories.

The national average score was 60 out of 100, which indicates widespread underpreparedness for longer lifespans.

What the Findings Show

The lowest score was in the care domain, which received a score of 42. This category assesses whether individuals have discussed their future care needs, identified caregivers, or completed legal documents such as a power of attorney or living will. The home and health domains each scored 56, suggesting limited preparation for aging in place or maintaining long-term independence.

"It is frankly no longer just about how much you have saved for retirement or even how healthy you are," said Brooks Tingle, president and CEO of John Hancock. "It is also about where you will live, how you will get around, how you will spend your time and who you will share that time with."

Tingle said the results show the financial services industry can do more to help Americans prepare for longer lives. The study's broader message calls for rethinking what it means to age well. Dr. Joe Coughlin, founder and director of the MIT AgeLab, said the Longevity Preparedness Index is designed to help shift that understanding.

"The LPI is more than a measurement," Coughlin said. "It is a research based framework that seeks to redefine how we prepare for later life."

He stated that longevity is influenced not only by health and finances, but also by daily routines, mobility, community support, and social connections.

The TEXPERS Deep Dive Podcast

For a deeper look into the report and what it means for the future of your retirement system, listen to our latest episode of the TEXPERS Deep Dive podcast. The episode breaks down the Longevity Preparedness Index in plain language and offers practical insights trustees and administrators can use right now: https://texpers1989.podbean.com/e/are-americans-ready-for-longer-lives-what-trustees-need-to-know-from-the-longevity-preparedness-index/

Why This Matters for TEXPERS System Members

1. Longer lives affect long-term funding

As retirees live longer, pension systems must continually review actuarial assumptions and model extended benefit periods.

2. Members may rely more on pension systems for guidance

Many adults lack preparation for caregiving, housing adaptations, or the challenges of late-life health needs. Public employees may increasingly turn to their retirement systems for information and support.

3. Public employees often retire earlier

First responders and many municipal workers retire earlier than their private sector counterparts due to the physically demanding nature of their careers. The Index highlights the importance of preparing earlier retirees for long retirement periods.

4. Financial education remains essential

Only 22.5 percent of respondents reported working with a financial professional. Pension systems can help close this gap by providing clear explanations of benefits, income projections, and planning resources.

5. Care and housing preparedness require greater attention

Low scores in the care and home categories show that many retirees have not planned for caregiving or safe aging at home. Pension administrators can encourage members to complete legal documents, maintain beneficiary information, and prepare for future needs.

The Bottom Line

The Longevity Preparedness Index reveals that many Americans are unprepared for the realities of longer lives. Public pension systems have an opportunity to support members by expanding communication and education about retirement planning, healthy aging, and life transitions. These efforts can ensure that public employees are better equipped to meet the financial and personal demands of extended lifespans.

About the Author: Allen Jones is the director of communications and event marketing for TEXPERS. He joined the Association in 2017. Before TEXPERS, he worked in the news media industry, producing content for newspapers, magazines, and online publications and leading newsrooms as an editor and publications manager. [email protected]