Pathways to a Secure Retirement

8^th Annual Conference of the Retirement Research Consortium

August 10-11, 2006

National Press Club

Washington, DC

Panel 1: Resource Adequacy at Retirement

View Paper:     The Decline of Defined Benefit Retirement Plans and Asset Flows

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James Poterba, MIT; Steven Venti, Dartmouth College; and David A. Wise, Harvard

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                        Annamaria Lusardi, Dartmouth College

View Paper:     Alternative Measures of Replacement Rates

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                        Michael D. Hurd and Susann Rohwedder, RAND Corporation

View Paper:     How Accurate Are Expected Retirement Savings?

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                        Steven J. Haider, Michigan State, and Melvin Stephens Jr., Carnegie Mellon University

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                        Peter Orszag, the Brookings Institution

Panel 2: Restructuring Social Security

View Paper:     The Excess Burden of Government Indecision

Francisco Gomes, London Businiess School; Laurence Kotlikoff, Boston University, and Luis Viceira, Harvard Business School

Earnings Responses to Increases in Payroll Taxes

View:               Presentation

                        Jeffrey Liebman, Harvard; and Emmanuel Saez, University of California, Berkeley

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                        Leora Friedberg, University of Virginia

View Paper:    Social Security Spouse and Survivor Benefits for the Modern Family

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Melissa M. Favreault and C. Eugene Steuerle, Urban Institute

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Virginia Reno, National Academy of Social Insurance

Panel 3: Designing Personal Accounts

View Paper:     Who Chooses Defined Contribution Plans?

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Jeffrey R. Brown and Scott J. Weisbenner, University of Illinois, Urbana-Champaign

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                        Olivia Mitchell, Wharton School, University of Pennsylvania

View Paper:     Risk and Reward of International Investing for Retirement Savers: Historical Evidence

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                        Gary Burtless, the Brookings Institution

View Paper:     Reducing Social Security PRA Risk at the Individual Level – Lifecycle Funds and No-loss Strategies

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James M. Poterba, MIT; Joshua Rauh, University of Chicago; Steven Venti, Dartmouth; and David A. Wise, Harvard

View:               Discussant Slides

                        John Campbell, Harvard University

Panel 4: The Future of Defined Benefit Pensions and the Pension Benefit Guaranty Corporation (PBGC)

Moderator: James B. Lockhart, Director, Office of Federal Housing Enterprise Oversight

                                                    Former Deputy Commissioner, Social Security Administration

Panelists:   Bradley Belt, Former Executive Director, PBGC

                   Douglas J. Elliott, President, Center on Federal Financial Institutions (view presentation)

                   Mark Warshawsky, Director of Retirement Research at Watson Wyatt Worldwide

Panel 5: Social Insurance Programs and Labor Supply Decisions

View Paper:     Removing the Disincentives for Long Careers in Social Security

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                        Gopi Shah Goda and John Shoven, Stanford University; and Sita Nataraj Slavov, Occidental College

View Paper:     Health Care Costs, Taxes, and the Retirement Decision

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Rudolph Penner and Richard Johnson, Urban Institute

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                        Alan Gustman, Dartmouth College

View Paper:     Labor Market Status and Transitions during the Pre-Retirement Years: Learning from International Differences

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                        Arie Kapteyn, James P. Smith, and Arthur van Soest, RAND Corporation; and James Banks, University College London

Panel 6: Employment and Claiming Behavior of “Young Retirees”

View Paper:     Has the Displacement of Older Workers Increased?

View:               Presentation

                        Alicia H. Munnell, Steven A. Sass, Mauricio Soto and Natalia A. Zhivan,

                        Center for Retirement Research at Boston College

View Paper:     The Importance of Objective Health Measures in Predicting Early Receipt of Social Security Benefits: The Case of Fatness

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                        Richard V. Burkhauser and John Cawley, Cornell University

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                        Mark Duggan, University of Maryland

View Paper:    Probabilistic Thinking and Early Social Security Claiming

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                        Adeline Delavande, RAND Corporation; Michael Perry and Robert J. Willis, University of Michigan

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                        Courtney Coile, Wellesley College

Panel 7: Lessons from International Experience

View Paper:    Notional Defined Contribution Pension Systems in a Stochastic Context: Design and Stability

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Alan J. Auerbach and Ronald Lee, University of California, Berkeley and NBER

View Paper:     Saving and Demographic Change: The Global Dimension

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                        Barry Bosworth and Gabriel Chodorow-Reich, the Brookings Institution

View Paper:    Cross National Comparison of Income and Wealth Status in Retirement: First Results from the Luxembourg Wealth Study (LWS)

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                        Eva Sierminska, Luxembourg Income Study; Andrea Brandolini, Bank of Italy; and Timothy Smeeding, Syracuse University and Luxembourg Income Study