As more and more Americans retire without traditional pensions, the shortcomings of defined contribution retirement plans such as 401(k)s have become increasingly obvious. While these plans do a fantastic job of helping workers save for retirement throughout their careers, they provide virtually no guidance on how to best use those assets in retirement.
In the absence of a structured drawdown strategy, new research shows that required minimum distributions (RMDs) are becoming the de facto default distribution option for retirement savings. But Congress implemented RMDs to reduce tax avoidance, not to guide decumulation—a job RMDs are therefore poorly suited to accomplish. Join BPC and Funding Our Future as we discuss better options for turning assets into income during retirement, and the role of government and the private sector in promoting retirement security through improved decumulation strategies.
Lettie Nocera | Senior Manager, Funding Our Future
Jeff Brown | Dean, Gies College of Business, University of Illinois
Annamaria Lusardi | Senior Fellow, Stanford Institute for Economic Policy Research
Ken Mungan | Chairman, Milliman
Nick Nefouse | Managing Director, BlackRock
Jason Fichtner | VP and Chief Economist, BPC (Moderator)