Session 1: Evolving Three-Legged Stool
(Working Breakfast)

Historically, the US retirement system has been described as a three-legged stool, meaning sources of income for a retiree would, ideally, come from three sources:  Social Security, an employer-provided defined benefit or defined contribution plan, and personal savings either from an employer-sponsored account or a personal account.  Does this description still fit?  Panelists will examine not only the strength of the three legs but also the changes to what the three legs are actually supporting. 

Break  

Session 2: Social Security

With the combined Trust Funds reserve depletion date projected to be in 2034, reform options are being proposed in Congress.  This session will include a discussion of innovative ideas that have been implemented in social retirement systems of other countries, as well as a discussion on the concepts of individual equity and social adequacy of the benefits provided by Social Security.

Break 

Session 3: Retirement Education

Retirement Education is a topic that has been gaining attention over the last several years. While there are many requirements surrounding information to be provided to plan participants under both defined contribution and defined benefit plans, there is no requirement that comprehensive education be provided to participants that would likely help them to secure a reliable income in retirement. The type of education that may be beneficial to participants differs based on plan type, stages in one’s working career, and other relevant factors. Our speakers will discuss some examples of retiree education programs that are currently being used, legislative and regulatory concerns that employers face when providing retirement education, and the challenges and risks that retirees face when de-accumulating defined contribution plan balances and how education and modeling could help in dealing with this challenge.

Break 

Session 4:  DEI in Retirement
(Working lunch)

This session will raise many of the same matters to be covered in the Academy’s Issue Brief on DEI issues for retirement (in development), which considers multiple aspects of retirement policy and plan design from a DEI point of view.  An overview of retirement income, retirement plan access, and financial literacy and retirement preparedness across different population segments will be provided.  This will be followed by an examination of retirement plan provisions and features from a DEI viewpoint, with emphasis on elements of plan design that can help traditionally disadvantaged groups take fuller advantage of retirement plans.  The session will conclude with a discussion of possible future policy changes and research that would foster improved retirement outcomes from a DEI perspective.