Financial Literacy in Times of Turmoil and Retirement Insecurity
The financial crisis has caused a reported $2 trillion loss in retirement accounts nationwide.
A majority of Americans are worried their retirement funds may not be sufficient, and young and old alike are concerned about financial and retirement security. On March 20, the Brookings Institution; the Wharton School’s Pension Research Council and Boettner Center; the University of Michigan Retirement Research Center; and The Retirement Security Project co-sponsored a conference on financial literacy and retirement preparedness.
The conference focused on how workers and retirees can better manage saving for retirement, and how they can stay secure during retirement. Participants identified research and policy directions for the future.
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| William Gale giving presentation. | |
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| J. Mark Iwry speaking at event. |
Agenda
Closing Remarks
John Laitner
Professor, Department of Economics, The University of Michigan
Welcome
Jason Fichtner
Senior Lecturer - Johns Hopkins University School of Advanced International Studies
Fellow - Bipartisan Policy Center
Financial Literacy, Planning and Retirement Saving
J. Mark Iwry
Nonresident Senior Fellow - Economic Studies
Visiting Scholar, Wharton School, University of Pennsylvania
Julie Agnew
Assistant Professor of Finance and Economics
Annamaria Lusardi
George Washington University
Olivia S. Mitchell
International Foundation of Employee Benefit Plans Professor - The Wharton School at the University of Pennsylvania
Robert Willis
Professor of Economics, University of Michigan
Discussant: David Certner
Director, Legislative Policy, Government Relations and Advocacy, AARP
Financial Illiteracy and Retirement Expectations: Prospects for Longevity, Decumulation and Health
Olivia S. Mitchell
International Foundation of Employee Benefit Plans Professor - The Wharton School at the University of Pennsylvania
Michael Hurd
Director, Center for the Study of Aging, RAND Corporation
Erzo F.P. Luttmer
Associate Professor, Harvard Kennedy School
Nick Maynard
Director of Innovation and New Product Development, D2D Fund
Discussant: Andrew Biggs
Resident Scholar, American Enterprise Institute
Keynote Address
The Honorable Michael Astrue
Commissioner, Social Security Administration
Lunch and Roundtable Discussion of Agency Initiatives
Jason Fichtner
Senior Lecturer - Johns Hopkins University School of Advanced International Studies
Fellow - Bipartisan Policy Center
Ted Beck
President and CEO, National Endowment for Financial Literacy
Dubis Correal
Director, Office of Financial Education Department of the Treasury
John Gannon
Senior Vice President, Office of Investor Education, Financial Industry Regulatory Authority
Debra Golding
Deputy Director For Education & Outreach
Kristi Kaepplein
Director of the Office of Investor Education and Advocacy, Securities and Exchange Commission
Alternate Approaches to Financial Literacy
Robert L. Clark
Professor, Department of Economics - North Carolina State University, and NBER
Shawn Cole
Assistant Professor of Business Administration, Harvard Business School
J. Mark Iwry
Nonresident Senior Fellow - Economic Studies
Visiting Scholar, Wharton School, University of Pennsylvania
Brigitte Madrian
Aetna Professor of Public Policy and Corporate Management, Harvard Kennedy School
Discussant: John Phillips
Chief, Population and Social Processes Branch, National Institute on Aging
Marching Orders for Research and Policy
Annamaria Lusardi
George Washington University
Angela Hung
Economist, RAND Corporation
Sheryl Garrett
Founder, Garrett Planning Network
Mike Staten
Director, Take Charge America Institute for Consumer Financial Education and Research
William G. Gale
The Arjay and Frances Fearing Miller Chair in Federal Economic Policy
Senior Fellow - Economic Studies
Director - Retirement Security Project
Co-Director - Urban-Brookings Tax Policy Center
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