2014 Symposium: Reimagining Pensions: The Next 40 Years

Source: Pension Research Council, May 2014

Forty years after the passage of the US Employee Retirement Income Security Act (ERISA) of 1974, confidence in retirement systems is shakier than ever. This event will examine opportunities and challenges for the future of retirement security, with speakers discussing the adequacy, efficiency, equity, and stability of our current retirement model. Participants will also propose options for policy reform and examine new pension provision models including in the international sphere. Conference attendees include academics, actuaries, plan sponsors, benefits specialists, policymakers, and others concerned about pension provision for the future.

Session I: Today’s Retirement System: Adequacy, Equity, Efficiency, and Stability
∙ “Are Retirees Falling Short? Reconciling the Conflicting Evidence” – Alicia Munnell, Matthew S. Rutledge, and Anthony Webb, Boston College
∙ “Retirement Plans and Prospects for Retirement Income Adequacy” – Jack VanDerhei, EBRI
∙ “The Changing Concept of Retirement” – Julia Coronado and Laura Rosner, BNP Paribas
Discussant: Cynthia Mallett, MetLife

Session II: New Thinking about Retirement Risk Sharing
∙ “Risk Sharing Alternatives for Pension Plan Design” – Anna Rappaport, Anna Rappaport Consulting, and Andrew Peterson, Society of Actuaries
∙ “United States Pension Benefit Plan Design Innovation: Labor Unions as Agents of Change” David Blitzstein, Blitzstein Consulting
∙ “The Promise of Defined Ambition Plans: Lessons for the United States” – A. Lans Bovenberg and Theo E. Nijman, Tilburg University

Session III: Implications of the Regulatory and Fiscal Environment for the Future of Pensions
∙ “Cultivating Pension Plans” – John Vine, Covington & Burling LLP
∙ “Entitlement Reform and the Future of Pensions” – Gene Steuerle, Urban Institute; Pamela Perun, Independent Consultant; and Ben Harris, Brookings Institution

Session IV: Practicalities of New Plan Design
∙ “Retirement Shares Plan: A New Model for Risk Sharing” – Don Fuerst, American Academy of Actuaries
∙ “Back to the Future: Hybrid Co-op Pensions and the TIAA-CREF System” – David Richardson and Benjamin Goodman, TIAA-CREF
∙ “Portfolio Pension Plans” – Richard Shea, Covington & Burling LLP
Discussant: John (Jamie) Kalamarides, Prudential Financial

Session V: International Perspectives on Pension Reform
∙ “Australian and United States Retirement Income Systems: Comparisons and Lessons” -John Piggott and Rafal Chomik, University of New South Wales
∙ “Singapore’s Social Security Savings System: Review and Reforms” – Benedict S. K. Koh, Singapore Management University
∙ “Insights from Switzerland’s Pension System” – Monika Buetler, Universitaet St. Gallen