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On our latest “Talking Markets” podcast, we listen in on a panel of experts discussing the potential US retirement crisis and the fear factors surrounding retirement disruption.

Drew Carrington, Head of Institutional Defined Contribution at Franklin Templeton Investments is joined by Lori Lucas, President and CEO at the Employee Benefit Research Institute (EBRI), Ed Murphy, CEO and President, Empowers Retirement Business and Lew Minsky, President and CEO at Defined Contribution Institutional Investment Association.

Here Are Some Highlights of the Views of the Speakers Presented:

  • Lori Lucas: A lot of good things happening in the employer-sponsored defined contribution system. I think we have to understand how well-loved 401(k)s are and how many people want to really preserve that system even though maybe we need to think differently about it.
  • Drew Carrington: I think one of the potential crises in talking about retirement would be this notion of the emerging workforce in the US known as the “gig economy” that doesn’t have access to traditional benefits.
  • Lew Minsky: I’m going to resist the term crisis, but we definitely have a puzzle that we need to solve and a part of it is just the framing around retirement. What we consider retirement is changing, what people need to ultimately secure is changing.
  • Ed Murphy: We still have millions and millions of Americans that aren’t covered by workplace retirement plans. And we know if there is no access to workplace savings [through payroll deductions], most don’t save.
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