July 2023: A Note from Actuary and Author Peter Neuwirth, FSA, FCA — I invite you to tune in for this week’s episode of my podcast and video show, Money Mountaineering, where for 30 minutes, financial experts help us answer the question: What’s your future worth?
Today’s topic: Shaping the Future of Retirement Income Solutions
Pete and Russ discuss:
- How have retirement income sources changed for retirees now compared to 20 years ago?
- How well are retirees in the US managing their retirement income?
- What can retirees do to improve happiness today and reduce the risk of running out of money?
- Are there strategies that participants should consider implementing?
- Are plan sponsors receptive to these solutions?
- How can we help plan sponsors take action?
- Where do the DC lifetime income solutions need to be in 10 years to help most people who need them?
- Have you seen the start of this movement?
About our guest: Russ joined Pacific Life in 2011 and is now Assistant VP, Managing Director Pensions. He is head of the Pension Risk Transfer (PRT) business and manages the sales team for both PRT and Defined Contribution Lifetime Income (DCLI) in the Institutional Division. He is also responsible for consulting companies to reduce and remove financial risk inherent in their pension plans through the Pacific Life suite of PRT solutions. Russ also works with companies with defined contribution plans, such as a 401(k) or 403(b) plan, to provide guaranteed lifetime income options for plan participants through our DCLI solutions.