2021 CRI Annual Policy Innovation Forum:
Securing a Reliable Income in Retirement

The Georgetown Center for Retirement Initiatives (CRI) hosted an exclusive, invitation-only two-day virtual Policy Innovation Forum featuring U.S. and international thought leaders. The Forum is a premiere gathering where senior industry leaders, policymakers, and stakeholders discuss the key challenges of designing a retirement system focused on improving long-term outcomes to strengthen retirement security.

Because there is growing interest among both plan participants and plan sponsors in generating and protecting lifetime income, the 2021 Policy Innovation Forum focused on innovative new approaches being considered in the U.S. and other countries. The forum explored: 1) ways to address major risks to retirement income, including longevity, timing, investment, and inflation; and 2) major system designs and delivery reforms, including institutional changes both public and private, to address these major risks and generate income for retirees.

With grant support from the Berggruen Institute, the CRI issued a Call for Papers related to the 2021 forum theme, and we explored this research at the forum.

Confirmed speakers (see Agenda) included:

  • Shlomo Benartzi, Ph.D., Professor Emeritus and Co-founder of the Behavioral Decision Making Group, UCLA Anderson School of Management
  • Ali Khawar, Acting Assistant Secretary, Employee Benefits Security Administration, U.S. Department of Labor
  • Robert Merton, Distinguished Professor of Finance, Sloan School of Management, MIT
  • Bradley Schurman, Founder and CEO, the Super Age

and many more!

As part of its annual, invitation-only 2021 Policy Innovation Forum held as a virtual event on November 2–3, 2021, the Georgetown CRI issued a Call for Papers. During the Forum, paper authors joined with experts from around the world as part of panel discussions exploring 1) ways to address major risks to retirement income, including longevity, timing, investment, and inflation; and 2) major system designs and delivery reforms, including institutional changes — both public and private — to address these major risks and generate income for retirees.

The following papers have been selected by the Georgetown Center for Retirement Initiatives to highlight as part of forthcoming proceedings of the Forum. Some of the papers were formally published after the Forum:

Selected papers are eligible to receive an honorarium for the authors’ research contributions.

The CRI is grateful to the Berggruen Institute for its support of the 2021 Forum and this Call for Papers.

Tuesday, November 2, 2021
11:00 a.m.–2:30 p.m. ET

Challenges and Innovations Shaping the Future of Retirement Income
in Defined Contribution (DC) Plans

11:00 a.m.–11:10 a.m.

Welcome and Opening Remarks

11:10 a.m.–Noon

The Annuitization Puzzle: Is it Possible to Narrow the Disconnect Between Interest and Action?

Presentation by Shlomo Benartzi, Ph.D., Professor Emeritus and Co-founder of the Behavioral Decision Making Group, UCLA Anderson School of Management: How Annuities and Digital Nudging Can Lead to Smarter Decumulation and a Longer Life

Noon–12:50 p.m.

The Promise, Perils, and Prospects for Income Products: What Are the Latest Innovations and How Well Do We Solve for Risks in Design?

12:50 p.m.–1:00 p.m.

Break

1:00 p.m.–1:30 p.m.

Keynote A Regulator’s Perspective: Lifetime Income Issues and Challenges

1:30 p.m.–2:20 p.m.

Lessons in Behavior: Should Automatic Savings Tools Lead to Automatic Income Mechanisms? If Not, Why Not

2:20 p.m.–2:30 p.m.  

Closing Comments

Wednesday, November 3, 2021
11:00 a.m.–2:30 p.m. ET

Global Mega-Trends Shaping the Future of Retirement Income

11:00 a.m.–11:10 a.m.

Welcome and Opening Remarks

11:10 a.m.–Noon

A Conversation with Nobel Laureate Dr. Robert Merton, Distinguished Professor of Finance, Sloan School of Management, MIT:  An Integrated Approach to the Retirement Funding Challenge

Noon–12:50 p.m.

Collective Defined Contribution Plans and Tontines: What Costs and Risks Do They Address that Traditional Annuities Cannot?

12:50 p.m.–1:00 p.m.

Break

1:00 p.m.–1:30 p.m.

Keynote Decoding Demographics

  • Bradley Schurman, Founder and CEO, the Super Age

1:30 p.m.–2:20 p.m.

International Approaches to Retirement Income: What are Key Trends and Lessons for the U.S. Retirement System?

2:20 p.m.–2:30 p.m.

Closing Comments

Research Partner

Platinum Sponsors

AKF Consulting

Gold Sponsor