Pathways to a Secure Retirement

8th 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

View:               Presentation

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

View:               Discussant Slides

                        Annamaria Lusardi, Dartmouth College


View Paper:     Alternative Measures of Replacement Rates

View:               Presentation

                        Michael D. Hurd and Susann Rohwedder, RAND Corporation


View Paper:     How Accurate Are Expected Retirement Savings?

View:               Presentation

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

View:               Discussant Slides

                        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

View:               Discussant Slides

                        Leora Friedberg, University of Virginia


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

View:               Presentation

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

View:               Discussant Comments

                        Virginia Reno, National Academy of Social Insurance


Panel 3: Designing Personal Accounts

View Paper:     Who Chooses Defined Contribution Plans?

View:               Presentation

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

View:               Discussant Slides

                        Olivia Mitchell, Wharton School, University of Pennsylvania


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

View:               Presentation

                        Gary Burtless, the Brookings Institution


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

View:               Presentation

                        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

View:               Presentation

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


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

View:               Presentation

                        Rudolph Penner and Richard Johnson, Urban Institute

View:               Discussant Slides

                        Alan Gustman, Dartmouth College


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

View:               Presentation

                        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

View:               Presentation

                        Richard V. Burkhauser and John Cawley, Cornell University

View:               Discussant Slides

                        Mark Duggan, University of Maryland


View Paper:    Probabilistic Thinking and Early Social Security Claiming

View:               Presentation

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

View:               Discussant Slides

                        Courtney Coile, Wellesley College


Panel 7: Lessons from International Experience

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

View:               Presentation

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


View Paper:     Saving and Demographic Change: The Global Dimension

View:               Presentation

                        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)

View:               Presentation

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