Growing awareness of real-world shocks including market downturns, health surprises, and labor market readjustments is calling into question the ability of global retirement systems to remain healthy and sustain future retirees. The 2022 PRC Symposium on “Real-World Shocks and Retirement System Resiliency” will explore how the changing financial and labor markets, and social as well as private insurance programs, will drive the need for new policy to meet these challenges. The event will be of interest to asset owners, researchers, management/advisory firms, financial advisors, and policymakers. Keynoters will include a discussion of how economic and financial phenomena are changing saving, investments, wealth, and inequality, as well as pension resiliency around the world. Our April 28-29, 2022 Wharton conference is by invitation only and limited to members. Click here for more information about membership.
Conference Agenda
Please find the conference speakers’ bios here.
Thursday, April 28, 2022
9:00: Welcome and Introductory Remarks. Olivia S. Mitchell, Pension Research Council of the Wharton School at the University of Pennsylvania
Session I: Labor Market Shocks: Scarring the Future?
Moderator: John Sabelhaus, The Brookings Institution
- Rich Johnson and Karen Smith, Urban Institute: “How Gloomy Is the Retirement Outlook for Millennials?” (video available here)
- Erika McEntarfer, US Census Bureau: “Older Workers, Retirement, and Macroeconomic Shocks” (paper available here, video available here)
- Courtney Coile, Wellesley College, and Haiyi Zhang, MIT: “Recessions and Retirement: New Evidence from the COVID-19 Pandemic” (video available here)
- Discussant Peter Brady, Investment Company Institute (video available here)
- Q&A
10:15-10:25 Session Break
Session II: The Changing Financial Environment and Retirement Security
Moderator: Olivia S. Mitchell, Pension Research Council
- Alice Henriques Volz, Federal Reserve Board, and John Sabelhaus, The Brookings Institution: “Wealth Inequality and Retirement Preparedness: A Cross-Cohort Perspective” (video available here)
- Jacob Mortenson, Elena Derby, and Kathleen Mackie, The United States Congressional Joint Committee on Taxation, and Lucas Goodman, S. Department of the Treasury, Office of Tax Analysis: “Changes in Retirement Savings During the COVID Pandemic” (video available here)
- Lisa Dettling, Sarena F. Goodman, and Sarah Reber, Federal Reserve Board: “Saving and Wealth Accumulation among Student Borrowers: Implications for Retirement Preparedness” (video available here)
- Discussant: Victoria Bryant, Internal Revenue Service (video available here)
Keynote I
11:35: Moderator: Debra Whitman, AARP
- Presentation: Ulrike Malmendier, University of California, Berkeley: “The Longlasting Effects of Crises and Other Past Experiences on Expectations and Economic Decisions” (video available here)
- Q&A
12:30: Session closes
Friday, April 29, 2022
9:00: Welcome Back
Session III: Real-World Shocks and Policy Developments
Moderator: Karen Dynan, Harvard University
- Robert Moffitt, Johns Hopkins University, and James Ziliak, University of Kentucky: “The Safety Net Response to the Covid-19 Pandemic Recession and the Older Population” (video available here)
- Louise Sheiner, The Brookings Institution, and Glenn Follette, Federal Reserve Board: “Retirement Security and Health Costs” (video available here)
- Kathleen Mullen, the University of Southern California, and Nicole Maestas, Harvard Medical School: “Economic Conditions, the COVID-19 Pandemic Recession and Implications for Disability Insurance” (video available here)
- Discussant Chris Wheat, JPMorgan Chase (video available here)
- Q&A
Session Break 10:15-10:30
Keynote II
10:30: Moderator Sudipto Banerjee, T. Rowe Price
- Presentation: David Knox, Mercer: “Learnings About the Objectives and Resiliency of Pension Systems” (video available here)
- Open Discussion
Session Closes: 11:30 am