2009 Symposium: Reorienting Retirement Risk Management
April 30-May 1, 2009
About the Conference
This event provoked an energetic discussion between researchers, policymakers, and practitioners on ways to restructure pension accumulation and decumulation plans, so that they can incorporate the best elements central to the old defined benefit model while taking advantage of the best of the defined contribution world. These include the opportunity for mobile workers to have portable plans, for participants to access sophisticated money managers instead of relying on investment impulses, and for retirees to protect against longevity risk. These issues are of particular importance in the context of the global financial meltdown, where new pension models are much on the minds of policymakers.
This conference was co-hosted by Robert L. Clark and Olivia S. Mitchell at The Wharton School.
Conference Agenda
Thursday April 30, 2009
Session I: Revisiting Retirement Saving and Dissaving Advice
- "What's Your Number? A Stochastic Asset-Salary Ratio Approach"
P. Brett Hammond and David P. Richardson, TIAA-CREF- Download Presentation [398K PDF] Login required.
- "How Does Retirement Planning Software Handle Post-Retirement Realities?"
Anna M. Rappaport, Anna Rappaport Consulting, and John A. Turner, Pension Policy Center- Download Presentation [195K PDF] Login required.
- Discussant: Jason Scott, Financial Engines
- Download Presentation [58K PDF] Login required.
- "Employer-Provided Retirement Planning Programs"
Robert L. Clark, Melinda Sandler Morrill, and Steven G. Allen, North Carolina State University- Download Presentation [114K PDF] Login required.
- "Impact of The Pension Protection Act on Advice: What's Working & What Remains to be Done?"
Lynn Pettus Finkelstein and R. Hall Kesmodel, Jr., Ernst & Young LLP- Download Presentation [29K PDF] Login required.
- "Comparing Spending Approaches in Retirement"
John Ameriks, Michael Hess, and Liqian Ren, The Vanguard Group- Download Presentation [39K PDF] Login required.
- Discussant: Sarah Holden, Investment Company Institute
- Download Presentation [368K PDF] Login required.
- Keynote Speaker: W. Todd Groome, AIMA
Session II: Challenges For Plan Design
- "The Impact of Social Security on Defined Contribution Portfolios"
Raimond Maurer and Ralph Rogalla, Goethe University of Frankfurt, and Olivia S. Mitchell, The Wharton School- Download Presentation [409K PDF] Login required.
- "Outsourcing Pension Longevity Protection"
Igor Balevich, Barclays Capital- Download Presentation [168K PDF] Login required.
- "Protecting And Strengthening Retirement Savings: Strategies to Reduce Leakage in 401(k)s and Expand Saving Through Automatic IRAs"
J. Mark Iwry, The Brookings Institution - Discussant: Ramu Thiagarajan, DB Advisors (Deutsche Bank)
- "Constructing New Retirement Systems: Choosing between Insurance and Investment, Choice and Default"
Emily K. Kessler, Society of Actuaries- Download Presentation [282K PDF] Login required.
- "The Role of Private Defined Benefit Pension Plans in US Retirement Income: Past, Present and Future Scenarios"
Jack VanDerhei and Craig Copeland, EBRI- Download Presentation [67K PDF] Login required.
- "Rebuilding Workers' Retirement Security: A Labor Perspective on Private Pension Reform"
Damon Silvers, AFL-CIO- Download Presentation [30K PDF] Login required.
- Discussant: Austin Rosenthal, Lincoln Financial Group
- Download Presentation [35K PDF] Login required.
Friday May 1, 2009
Session III: Innovations in Retirement Risk Financing
- "Can VEBAs Alleviate Retiree Health Care Problems?"
Aaron Bernstein, Harvard University - "Longevity Risk and Annuities in Singapore"
Joelle H.Y. Fong and Olivia S. Mitchell, The Wharton School, and Benedict Koh, Singapore Management University- Download Presentation [177K PDF] Login required.
- "Risk Budgeting: A New Approach in the CPP Investment Board"
Sterling Gunn and Tracy Livingstone, CPPIB- Download Presentation [157K PDF] Login required.
- Discussant: Drew Carrington, UBS Global Asset Management
- Download Presentation [85K PDF] Login required.
Session IV: Roundtable Innovations in Retirement Risk Financing
Chair: Robert L. Clark, North Carolina State University; David S. Blitzstein, UFCW International Union; David Wray, Profit Sharing/401k Council of America; Lori Lucas, Callan Associates
For More Information
For more information, please contact:
Pension Research Council
The Wharton School, University of Pennsylvania
3000 Steinberg Hall - Dietrich Hall
Philadelphia, PA 19104-6302
Tel: 215.898.7620
Fax: 215.573-3418
Email: prc@wharton.upenn.edu
