About the Conference
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 examined opportunities and challenges for the future of retirement security, with speakers discussing the adequacy, efficiency, equity, and stability of our current retirement model. Participants also proposed options for policy reform and examine new pension provision models including in the international sphere. Conference attendees included academics, actuaries, plan sponsors, benefits specialists, policymakers, and others concerned about pension provision for the future. This conference was co-hosted by Olivia S. Mitchell and Richard C. Shea at the Wharton School.
Conference videos may be found here.
Conference Agenda
Thursday, May 1, 2014
Introductory Remarks: Olivia S. Mitchell, The Wharton School
Session I: Today’s Retirement System: Adequacy, Equity, Efficiency, and Stability
- Alicia Munnell, Matthew S. Rutledge, and Anthony Webb, Boston College: “Are Retirees Falling Short? Reconciling the Conflicting Evidence” (presentation slides available here, paper available here)
- Jack VanDerhei, EBRI: “Retirement Plans and Prospects for Retirement Income Adequacy” (presentation slides available here, paper available here)
- Julia Coronado and Laura Rosner, BNP Paribas: “The Changing Concept of Retirement” (presentation slides available here, paper available here)
Discussant: Cynthia Mallett, MetLife (video available here, presentation slides available here)
Session II: New Thinking about Retirement Risk Sharing
- Anna Rappaport, Anna Rappaport Consulting, and Andrew Peterson, Society of Actuaries: “Risk Sharing Alternatives for Pension Plan Design” (presentation slides available here, paper available here)
- David Blitzstein, Blitzstein Consulting: “United States Pension Benefit Plan Design Innovation: Labor Unions as Agents of Change” (presentation slides available here, paper available here)
- A. Lans Bovenberg and Theo E. Nijman, Tilburg University: “The Promise of Defined Ambition Plans: Lessons for the United States” (presentation slides available here, paper available here)
Discussant: Peter Shena, Ontario Pension Board (video available here, presentation slides available here)
Keynote Speaker: J. Mark Iwry, US Department of the Treasury (video available here)
Session III: Implications of the Regulatory and Fiscal Environment for the Future of Pensions
- John Vine, Covington & Burling LLP: “Cultivating Pension Plans” (presentation slides available here, paper available here)
- Gene Steuerle, Urban Institute; Pamela Perun, Independent Consultant; and Ben Harris, Brookings Institution: “Entitlement Reform and the Future of Pensions” (presentation slides available here, paper available here)
Discussant: Brian Ortelere, Morgan, Lewis & Bockius, LLP (video available here)
Session IV: Practicalities of New Plan Design
- Don Fuerst, American Academy of Actuaries: “Retirement Shares Plan: A New Model for Risk Sharing” (presentation slides available here, paper available here)
- David Richardson and Benjamin Goodman, TIAA-CREF Institute: “Back to the Future: Hybrid Co-op Pensions and the TIAA-CREF System” (presentation slides available here, paper available here)
- Richard Shea, Covington & Burling LLP: “Portfolio Pension Plans” (presentation slides available here, paper available here)
Discussant: John (Jamie) Kalamarides, Prudential Financial (presentation slides available here)
Keynote Speaker: Phyllis Borzi, US Department of Labor
Friday, May 2, 2014
Session V: International Perspectives on Pension Reform
- John Piggott and Rafal Chomik, University of New South Wales: “Australian and United States Retirement Income Systems: Comparisons and Lessons” (presentation slides available here, paper available here)
- Benedict S. K. Koh, Singapore Management University: “Singapore’s Social Security Savings System: Review and Reforms” (presentation slides available here, paper available here)
- Monika Buetler, Universitaet St. Gallen: “Insights from Switzerland’s Pension System” (presentation slides available here, paper available here)
Discussant: Fredrik Axsater, State Street Global Advisors
Session VI: Roundtable
Richard Shea, Covington & Burling LLP – Moderator
Kevin Covert, Honeywell
Dallas Salisbury, EBRI
Alan Rubenstein, UK Pension Protection Fund