On the week of June 29th, EBRI offered its traditional spring Policy Forum in a nontraditional format — via a series of webinars. The sessions offered compelling speakers addressing policy implications in a post-pandemic world. Our panelists discussed retirement, health, and financial wellness issues within the prism of the times.
Below you can find more information on the sessions we held in addition to the presentation slides from each session.
June 29, 1 p.m – 2 p.m. CARES Act: Implications for Retirement Security of American Workers
The CARES Act provides important relief for Americans struggling in the midst of the current pandemic. However, provisions that increase availability of loans and hardship withdrawals could significantly impact workers’ retirement security. On this panel, using EBRI’s Retirement Security Projection Model®, Jack VanDerhei will provide an evaluation of the provisions’ potential impact on retirement income adequacy. Edelman Financial Engines’ Bridget Bearden will give her perspective on how employers might help workers rebuild their retirement assets and avoid unnecessary access. We’ll also hear plan sponsors’ considerations, presented by the Chamber of Commerce’s Chantel Sheaks.
June 30, 1 p.m. – 2 p.m. The New Landscape: COVID-19’s Impact on Defined Benefit Plans
The pandemic has had a mixed impact on single-employer pension plans and arguably a devastating impact on multiemployer pension plans. In this session, Christopher Bone, former Director of Policy, Research and Analysis Department of the Pension Benefit Guaranty Corporation, will discuss how market volatility and changes in the benchmark corporate bond interest rates have affected deficits across the U.S. pension system — as well as the implications of the deficit changes. He will be joined by Jason Russell of Segal and Bruce Cadenhead of Mercer.
July 1, 1 p.m. – 2 p.m. Coming out the Other Side of COVID-19: the Future of the Employer Based Health Care System
With COVID-19 poised to plunge the U.S. economy into the first recession since the Affordable Care Act was put into place, the question now is: Will struggling employers move away from their role in providing health care coverage for American workers? Join this panel to hear more about the future of the employment-based health benefits system.
July 2, 1:00 p.m. – 2:00 p.m. Financial Wellness in Times of Crisis
Prior to the current crisis, only 1 in 5 families with working family heads had liquid savings of more than three months. This means that most workers are likely struggling as they face the current crisis. How are plan sponsors, providers, and policymakers addressing the current need?