Date: April 28-29, 2022
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.
2021 Online Symposium:
Date: April 29-30, 2021
The 2021 Pension Research Council Symposium on Sustainable Investment in Retirement Plans: Challenges and Opportunities responded to rising global interest in environmental, social, governance (ESG), and impact investing to generate positive impact while generating financial return. Speakers explored the pros and cons of pension ESG investments; findings will interest researchers, management/advisory firms, financial advisors, asset owners, and policymakers. Plans sponsors and analysts also discussed case studies from the US and around the world. Our April 29-30, 2021 Wharton online conference was by invitation only.
2020 Online Symposium:
Date: May 7, 2020
The 2020 Pension Research Council/Boettner Online Symposium on Managing Longevity Risk: New Roles for Public/Private Engagement discussed what rising longevity means for our future, how people perceive longevity risk, and the economics and psychology of working longer. Our May 7, 2020 Wharton online conference was by invitation only.
4th Annual INPARR Conference:
Date: June 5, 2019
The International Network for Pensions, Aging, and Retirement Research (INPARR) hosted its fourth annual conference at the OECD Headquarters, Paris on 5 June 2019. The theme for this event was Developments in Pensions. INPARR is a collaboration between CEPAR, the Pension Research Council at the Wharton School of the University of Pennsylvania (USA) and Netspar at Tilburg University (The Netherlands). INPARR has as its mission the promotion and advancement of high-quality social science research on pensions, ageing, and retirement. The conference was by invitation only.
Date: May 2 and 3, 2019
The 2019 PRC Symposium on Remaking Retirement? Debt in an Aging Economy explored changing patterns of debt as the world ages and what these patterns will imply for retirement security. Implications for plan sponsors, benefits specialists, actuaries, academics, regulators, and plan participants were drawn out in terms of saving, investment, consumption, and housing expenditures. The conference was by invitation only.
Date: May 3 and 4, 2018
The 2018 PRC Symposium on The Disruptive Impact of FinTech on Retirement Systems explored how technological innovation is changing the retirement marketplace, insurance markets, and how plan sponsors help shape workers’ pension saving, investment, and decumulation plans. Academics, policymakers, and industry leaders discussed how these innovative and often disruptive developments are altering the retirement space. Conference participants included plan sponsors, benefits specialists, actuaries, academics, regulators, and others working to design resilient pensions for the next decades.
Date: May 4 and 5, 2017
The 2017 PRC Symposium on Saving and Retirement in an Uncertain Environment explored how the weak performance of capital markets predicted over the next several years will shape pension saving, investment, and decumulation plans. Academics, policymakers, and industry leaders debated alternative strategies to cope with these challenges globally, as economic growth remains slow and low returns become the ‘new normal.’ Conference participants included plan sponsors, benefits specialists, actuaries, academics, regulators, and others working to design resilient pensions for the next decades.
Retirement Security Symposium:
Date: October 19, 2016
City Controller Alan Butkovitz along with AARP and Wharton’s Pension Research Council hosted a Retirement Security Symposium to discuss Philadelphia’s future outlook. Local and national experts participated in several panels to identify issues and present policy options. Several plans that are currently being discussed around the country were highlighted at the event, including Secure Choice (Auto-IRA), Open Multiple Employer Plan, Retirement Marketplace and the promotion of Federal myRA. Featured guests included: Phyllis Borzi, Asst. Secretary, U.S. Dept. of Labor; Mark Iwry, Asst. Secretary, U.S. Dept. of Treasury; Kathleen Kennedy Townsend, CEO, Center for Retirement Initiatives; and many others.
Date: May 5-6, 2016
By the end of the next decade, the number of older Americans will have grown rapidly, but half if not more of the elderly will suffer from cognitive deficits after the age of 80. Our 2016 Pension Research Council symposium on Financial Decision Making and Retirement Security in an Aging World explored how financial decision-making changes at older ages, how and when financial advice can be useful for the older population, and what solutions and opportunities are needed to resolve the likely problems that will arise.
- 2015 Symposium: Implications of the New Regulatory Order for Retirement System Risk Management
April 30 – May 1, 2015
What do efforts to strengthen the world’s financial system portend for non-bank financial entities, including insurance companies and pension funds? Recent regulatory, supervisory, governance, and financial market changes will increasingly drive the pensions and insurance agenda. High-level policymakers, academics, and practitioners discussed topics pertinent to risk management and pension design for an aging planet.
- 2014 Symposium: Reimagining Pensions: The Next 40 Years
May 1-2, 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 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 examined 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.
- 2013 Symposium: Recreating Sustainable Retirement: Resilience, Solvency, and Tail Risk
April 25-26, 2013
The 2013 Pension Research Council Symposium at the Wharton School of the University of Pennsylvania explored critical problems raised by the ‘known unknowns’ as well as the ‘unknown unknowns’ confronting retirement systems seeking to deliver old-age security to growing numbers of older persons. The research presented informed policymakers, academics, actuaries, plan sponsors, and benefits specialists about longevity risk, capital market risk, model risk, regulator risk, and products and policies needed to manage these more effectively around the world. This analysis has important implications for the ways in which pension designers, fiduciaries, and policymakers should develop the future framework for addressing risk and sustainability within retirement models.
- 2012 Symposium: The Market for Retirement Financial Advice
May 3-4, 2012
Though many people use financial advisers, and many more would probably benefit from financial advice, relatively little is known about the marketplace for such advice. The 2012 Pension Research Council conference at the Wharton School of the University of Pennsylvania offered cutting-edge research and commentary on key aspects of the advice marketplace, types of advice provided, fees and commissions, market and regulatory considerations, and how to evaluate advisers’ performance and impact. Additionally, a roundtable discussion was held on fiduciary challenges for financial advisers. Conference attendees included consultants and advisers, academics, actuaries, plan sponsors, benefits specialists, and policymakers.
- 2011 Symposium: Reshaping Retirement Security: Lessons from the Global Financial Crisis
May 5-6, 2011
The global financial crisis has prompted policymakers, plan sponsors, benefits specialists, academics, and actuaries to rethink retirement security for the 21st century. Our 2011 Pension Research Council conference at the Wharton School of the University of Pennsylvania explored the impact of the crisis and its fallout on retirement systems, as well as ideas for new, more resilient models in the United States and abroad. Discussion covered how the crisis has shaped retirement patterns and future retirement income flows, capital market opportunities, plan sponsor decisions, and regulator reactions to the crisis. This event provoked energetic discussion on what the crisis implies for retirement security, the pension marketplace, and the future of retirement system regulation.
- 2010 Symposium: Financial Literacy: Implications for Retirement Security and the Financial Marketplace
April 29-30, 2010
This event provoked an energetic discussion between researchers, policymakers, and practitioners on enhanced financial literacy and its relationship to retirement security, the financial marketplace, and how it relates to financial market regulation. The goal of the conference was to inform policymakers, academics, actuaries, plan sponsors, and benefits specialists about what has been learned, and what remains to be done, to take advantage of the ‘teachable moment’ resulting from the financial crisis. Conference attendees included academics, actuaries, plan sponsors, benefits specialists, and policymakers, as well as others. The gathered research is of substantial interest to the Wharton School, inasmuch as this analysis has important implications for the ways in which pension designers, fiduciaries, and policymakers should develop the future framework for financial education and retirement preparedness in public and private pension systems.
- 2009 Symposium: Reorienting Retirement Risk Management
April 30-May 1, 2009
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.
- 2008 Symposium: The Future of Public Employee Retirement Systems
May 1-2, 2008
This event examined the challenges facing public retirement systems in the US and around the world. After tracing the evolution of public sector pensions and retiree health programs, the discussion compared public with private sector pay and benefits. Next the speakers took up public policy concerns regarding accounting and management in public employee plans in the United States, focusing on ways to properly measure liabilities and how to make the plans more cost effective. The discussion also included analysis of defined contribution versus defined benefit plans for the public sector, and funding of federal retirement systems, both civilian and military. International lessons were brought to bear with a discussion of reforms in the German, the Japanese, and the Canadian public employee plans. This conference was a Wharton Impact Conference sponsored by the Wharton School’s Pension Research Council and Boettner Center for Pensions and Retirement Research.
- 2007 Symposium: Managing Retirement Payouts: Positioning, Investing, and Spending Assets
April 23-24, 2007
This event highlighted emerging issues regarding assets and expectations on the verge of retirement, including uncertainty regarding life expectancy and morbidity. Analysts explored retirement asset positioning and location, phasing of spending patterns, and debt as well as housing consumption in later life. Financial advisers and academics debated ways to effectively manage assets in retirement, including the role of advice engines and tax challenges. Lawyers and policy experts evaluated regulation for the retirement payout marketplace, along with long-term care insurance.
- 2006 Symposium: Transitioning to Retirement: How Will Boomers Fare?
April 24-25, 2006
Presenters at this conference drew on new microeconomic panel datasets including the Health and Retirement Study to evaluate how well Baby Boomers compare with prior cohorts, in terms of their preparedness for retirement. Papers examined financial, health, and social capital of Boomers on the verge of retirement, with similar measures of wellbeing or shortfalls for previous cohorts.
- Lessons from Pension Reform in the Americas
March 2-3, 2006
As policymakers debate Social Security reform, the range of pension reforms in the Americas offers many lessons. Chile’s pension reform is now in its twenty-fifth year, and other reforms in the region are at least a decade old. These reforms give researchers a substantial body of data to analyze in evaluating pension reforms in terms of efficiency and equity. At this conference, leading experts on pensions presented their research and discussed the lessons of pension reform in the Americas.
- 2005 Symposium: The Evolution of Risk and Reward Sharing in Retirement
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 analyzed how recent changes in risk and reward patterns are being shared among the parties to private and public retirement systems. Discussion assessed how these risk sharing arrangements are evolving and should continue to change in the future.
- 2004 Symposium: Reinventing the Retirement Paradigm
This symposium focused on pension policy and changes needed to support development of pensions in the coming years as we move toward the retirement of the baby boom cohort. Participants examined recent trends in retirement patterns and drew implications for the future of retirement. This symposium marked both the 30th Anniversary of ERISA and the 50th Anniversary of the Pension Research Council.