The industry has been much abuzz about retirement income as a concept for years now, but almost a decade after the first prominent plan sponsor adapted an in-plan annuity option within their defined contribution plan, there is still much debate and room for growth and imagination. While plan sponsors can all agree on the importance of devising and providing a stable and sufficient income stream for participants after retirement, an ultimate end-all retirement income solution remains elusive for the industry. Many have looked to the pension plans of old for inspiration and included annuity options as a way to ensure a steady stream of income, while others focused on education for the decumulation phase, creating retirement tiers, and other innovations within the existing infrastructure.
At the end of the day, the idea of "income" may not have been what defined contribution was originally intended or structured for, but with the sense of urgency arising from within the industry on providing better retirement outcomes, we are putting our heads together with our partners in the DC community to provide a clearer path forward. At our inaugural Retirement Income Symposium, we will cover a broad range of topics within the retirement income conversation, including but not limited to:
- Looking at existing and upcoming theoretical approaches to retirement income, alongside examples and case studies of real-life retirement income solutions, and how plan sponsors and providers in real life are communicating and messaging these strategies.
- The impact of the SECURE Act, more than a year since its passage, on the fiduciary concerns surrounding annuities.
- Additional considerations for the all-important post-retirement phase that may impact participants' needs regarding retirement income, such as overall financial wellness, healthcare, and personal spending behaviors.
The Defined Contribution Institute was created to serve DC plan sponsors, and we rely upon an Advisory Board of plan sponsors to help conceptualize and guide each event’s agenda. We sincerely thank this year’s Advisory Board as well as everyone who has provided — and will continue to provide — input to ensure that the topics we are addressing are current, practical, and pertinent.
Bernie Knobbe, Vice President, Global Benefits, AECOM (Chair)
Henry Levy, Treasurer - Tax Collector, Alameda County Employees’ Retirement Association
Bill Bercek, 401(k) Program Manager, Amazon
Suzanne Carroll, Director, Treasury, Amgen
Paul Visconti, Director of Retirement Programs and Investments, Avangrid
Paul Mele, Global Head of Benefits, BlackRock
Matt Adamson, Benefits, Americas, Bloomberg L.P.
Kevin Stoller, Director of Benefit Investment, Caterpillar Inc.
Lynna Soller, Benefits Manager, City of Chandler
Steven Montagna, Chief Personnel Analyst, City of Los Angeles
Johnny Liang, Senior Director, Compensation & Benefits, Dolby Laboratories
Anthony Tomich, Head of Pension Investments, Farmers Insurance Group
Colin Orr, Associate Director, Retirement Benefits, Genentech
Daniel Marafino, Financial Benefits Specialist – Retirement, Google
Patin Ma, Compensation Manager, Google
Michael Jabs, Lead, Pensions, Kraft Heinz Food Company
Shafer Smith, Portfolio Manager, Public Equities, Lockheed Martin
Jason Naskiewicz, Americas Investment Manager, Mars Incorporated
Debra Roberts, Chief Investment Officer, Maryland Supplemental Retirement Agency
Stephen McCaffrey, Senior Counsel for Plans, National Grid USA
Ron Shaw, Financial Wellbeing & Retirement Manager, Paychex
Jack Miller, Advisory Committee Member, Pension Benefit Guaranty Corporation
Carl Gagnon, Assistant Vice President, Global Retirement Programs, Unum Group
The Defined Contribution Institute is a private membership organization for the nation’s DC plan sponsors as well as supporting members from the industry’s leading asset management firms, providers, and consultants. Members and supporting members come together for meetings which foster idea exchange and the achievement of common goals. The environment at these events is collegial, collaborative and confidential in accordance with Chatham House Rules. Built by plan sponsors for plan sponsors, the agenda for each DC Institute meeting draws heavily on an incomparable well of industry insight contributed by our plan sponsor and expert attendees. Each program addresses the issues most relevant to the nation’s plans.