New conference: 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 will co-sponsor a conference on financial literacy and retirement preparedness.

The conference will focus on how workers and retirees can better manage saving for retirement, and how they can stay secure during retirement. Participants will identify research and policy directions for the future.

After their presentations, speakers and panelists will take questions from the audience. Lunch will be provided.

Event Information

When

Friday, March 20, 2009
8:50 AM to 04:30 PM

Where

Falk Auditorium
The Brookings Institution
1775 Massachusetts Ave., NW
Washington, DC
Map

Contact: Brookings Office of Communications

E-mail:
events@brookings.edu

Phone: 202.797.6105

Participants

Welcome

Jason Fichtner, Acting Deputy Commissioner of Social Security, Social Security Administration

Financial Literacy, Planning and Retirement Saving

Chair: J. Mark Iwry, Principal, Retirement Security Project; Nonresident Senior Fellow, Economic Studies

Julie Agnew, Assistant Professor of Finance and Economics; The Mason School of Business, The College of William and Mary

Annamaria Lusardi, Professor of Economics, Dartmouth College

Olivia Mitchell, Executive Director, Pension Research Council Director, Boettner Center for Pensions and Retirement Research, The Wharton School

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

Chair: Olivia Mitchell, Executive Director, Pension Research Council Director, Boettner Center for Pensions and Retirement Research, The Wharton School

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

Chair: Jason Fichtner, Acting Deputy Commissioner of Social Security Social Security Administration

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; Department of Labor Office of Participant Assistance

Jeanne Hogarth, Program Manager, Consumer Education and Research Section Division of Consumer and Community Affairs, The Federal Reserve Board

Kristi Kaepplein, Director of the Office of Investor Education and Advocacy, Securities and Exchange Commission

Alternate Approaches to Financial Literacy

Chair: Robert Clark, Professor, Department of Economics Management, Innovation and Entrepreneurship, North Carolina State University

Shawn Cole, Assistant Professor of Business Administration, Harvard Business School

David John, Principal, The Retirement Security Project Senior Research Fellow, The Heritage Foundation

J. Mark Iwry, Principal, Retirement Security Project; Nonresident Senior Fellow, Economic Studies

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

Chair: Annamaria Lusardi, Professor of Economics, Dartmouth College

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, Director, The Retirement Security Project; Vice President and Director, Economic Studies

Closing Remarks

John Laitner, Professor, Department of Economics, The University of Michigan