2005 Symposium: The Evolution of Risk and Reward Sharing in Retirement
April 25-26, 2005
About the Conference
Retirement systems unavoidably balance a variety of economic and political risks, including capital market and mortality shocks, firm bankruptcy risks, funding changes, and policy shifts. These are in turn reapportioned among various stakeholders. This conference will analyze how recent changes in risk and reward patterns are being shared among the parties to private and public retirement systems. Our goal is to assess how these risk sharing arrangements are evolving and should continue to change in the future.The 2005 Symposium was a Wharton Impact Conference sponsored by the Wharton School's Pension Research Council and Boettner Center for Pensions and Retirement Research.
Co-organized by David Blitzstein, Olivia S. Mitchell and Steve Utkus.
Conference Agenda
APRIL 25, 2005
- Opening Remarks: Olivia Mitchell
- Did Pensions Take a Wrong Turn? David Blitzstein, UFWC
- "New Views of Defined Benefit Plans: Risks and Rewards for Plan Sponsors"
P. Brett Hammond and Doug Fore, TIAA-CREF- Download Presentation [PDF, 26K] Login required.
- "The Influence of PBGC Insurance on Pension Fund Finances"
Julia Coronado, Watson Wyatt, Nellie Liang, Federal Reserve Board of Governors
- "Changing Views of Pension Risk Management: New Actuarial Perspective"
Emily Kessler, SOA- Download Presentation [PDF, 76K] Login required.
- "Optimal Investment Strategies for Hybrid Pension Plans - Analyzing the Perspective of Sponsors and Members"
Peter Albrecht, Univ. of Mannheim; Raimond Maurer, Univ. of Frankfurt; Joachim Coche, European Central Bank; Ralph Rogalla, Univ. of Frankfurt
- "Changing Pension Risks Confronting Participants"
Phyllis Borzi, GW- Download Presentation [PDF, 52K] Login required.
- "Saving Adequacy in the DC Context"
Sarah Holden, ICI and Jack Vanderhei, EBRI/Temple
- "Better Plans for the Better-Paid: Determinants and Effects of 401(k) Plan Design"
Olivia Mitchell and Stella Yang, Wharton; Steve Utkus, Vanguard- Download Presentation [PDF, 71K] Login required.
- "New Investment Strategies for a Defined Contribution Pension Environment"
Ronald Albahary, SEI Investments and Joseph Miskel, Merrill Lynch Retirement- Download Presentation [PDF, 105K] Login required.
- "Changing Dynamics and Risk Sharing in Employer-Provided Retiree Medical Benefits"
Brian Fuller, George Wagoner, Frank Yeager, Mercer; Anna Rappaport, Independent Consultant- Download Presentation [PDF, 591K] Login required.
- Discussant: Lori Lucas, Hewitt Associates LLC
- Download Presentation [PDF, 36K] Login required.
Session V: Pension Risks and Rewards: Public Sector Perspectives
- "Who Bears What Risk? An Intergenerational Perspective"
Henning Bohn, University of California Santa Barbara- Download Presentation [PDF, 64K] Login required.
- "The UK Approach to Insuring Defined Benefit Plans"
Anthony Neuberger, Warwick Business School, and David McCarthy, Imperial College - "Avoiding Transition Costs in Reforms to Social Security"
Salvador Valdés-Prieto, Universidad Católica de Chile - "A Modern Approach to Single Employer Defined Benefit Pension Regulation:
Motivations for the Administration's Pension Reform Proposal"
Neal McCall, Mark Warshawsky, and John D. Worth, Department of the Treasury - Discussant: Kent Smetters, Wharton
- Round Table discussion: Mary Nell Billings, Federal Express; Daniel Madden, Illinios Tool Works; James F. Moore, PIMCO
Pension Research Council
The Wharton School of the University of Pennsylvania
3620 Locust Walk, 3000 Steinberg Hall–Dietrich Hall
Philadelphia, PA 19104-6302
Tel: 215.898.7620 | Fax: 215.573.3418 | prc@wharton.upenn.edu
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