TEXPERS System Members are used to thinking in decades, balancing today’s benefits against tomorrow’s obligations. But what happens when tomorrow lasts longer than ever?

According to the Guardian’s Retirement Redefined study, longevity is transforming retirement into a 20- to 30-year phase that looks very different from the one public pension systems were built around. Three in four Americans now expect to continue working at least part-time in retirement, even as fewer have access to lifetime income protections.

As life expectancy rises and private pensions fade, 44 percent of Americans say they are worried about their savings lasting long enough. Many also report surprises that extend beyond financial concerns, such as poorer health, increased loneliness, and emotional stress. Guardian’s message is clear: to thrive in this new era, people must prepare their mind, body, and wallet® for a longer, more complex retirement.

Listen to Our TEXPERS Deep Dive Podcast for an easy breakdown of the report and practical tips on how to implement its findings: https://texpers1989.podbean.com/e/texpers-deep-dive-podcast-the-longevity-factor-%e2%80%93-rethinking-retirement-readiness/

Read the Full Report: Guardian 14th Annual Workplace Benefits Study – Retirement Redefined (2025)

Why It Matters for TEXPERS Members

For trustees and administrators of Texas public employee retirement systems, these findings are particularly relevant. They validate why defined benefit plans remain essential: they deliver guaranteed income and stability that private-sector workers increasingly lack. The challenge and opportunity for System Members is to communicate that value while adapting education, funding strategies, and plan oversight to the realities of longer lifespans and evolving member needs.

Key Insights for System Members

1. Longevity requires long-range stewardship.
Each extra year of average life expectancy adds strain to actuarial assumptions and long-term liabilities. System Members should ensure their plans’ funding policies, investment strategies, and communication practices all account for extended retirements. Longevity risk should be a regular part of board discussions.

2. Health and financial wellness are linked.
Nearly half of retirees in Guardian’s research said they expected to be healthier than they are, and one in four felt unexpectedly lonely. System Members can promote member well-being by supporting education around physical health, mental resilience, and the emotional transitions of retirement. These factors directly influence financial stability and satisfaction.

3. The three-legged stool is wobbling, but public pensions still provide balance.
With fewer private-sector pensions and questions surrounding Social Security’s future, defined benefit systems remain one of the few steady sources of lifetime income. System Members can use this national data to emphasize how DB plans anchor communities and the economy, and why disciplined funding protects that advantage.

4. Preparation improves outcomes and peace of mind.
Guardian found that retirees who felt “very prepared” were far more likely to report high emotional well-being. For System Members, this reinforces the value of proactive member education. Clear communication about service credit, benefit formulas, and realistic retirement timing can boost both confidence and engagement across all career stages.

The Bottom Line

Retirement is not an end; it is an evolution. As Americans live longer, TEXPERS System Members must plan for a future that extends well beyond traditional models. By helping members prepare their mind, body, and wallet, and by safeguarding the financial strength of Texas’ defined benefit systems, System Members can ensure longevity becomes a success story, not a stress test, for the next generation of retirees.

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]