The Financial Crisis and the New Retirement:
Research reveals a new approach to retirement,
and provides important guidance for policymakers
Capitol Hill Briefing
June 22, 2009
The current market downturn and economic crisis have created new challenges for those nearing retirement as well as those who have already retired. Reduced 401(k) balances, staggering declines in assets, job losses, and a downturn in the housing market add complexities to the retirement system.
This Hill briefing offered unique perspectives of the actuarial profession to help guide policymakers in seeking ways to help plan sponsors and retirees adjust to the new environment.
Topics included:
- When and how people expect to retire vs. when and how they actually will.
- The risks and security problems people face after they retire, how this has changed, and the implications for public policy.
- How the planning horizon has changed.
- How housing wealth and other factors now fit into retirement security.
Speakers
- Ethan Kra, Vice Chairman, American Academy of Actuaries Pension Practice Council
- Anna Rappaport, Chair, Society of Actuaries Committee on Post-Retirement Needs and Risks
- Andy Peterson, Staff Fellow - Retirement Systems, Society of Actuaries
- Frank Todisco, Senior Pension Fellow, American Academy of Actuaries
Handouts
- See the slides used by the speakers. (PDF)
Questions?
- Please contact Philip Hafler at the Academy
(hafler@actuary.org, 202-223-8196) with questions.
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