The State of Retirement, State Plans and What the Data States!
Guest: Brian Reid
When I launched the 401(k) Fridays Podcast a few objectives I had was to give employers a resource that will help them get beyond the eyeball grabbing headlines, the ever present three bullet summaries and provide some well thought out perspectives to help guide conversations and decisions in your workplace retirement plans. I’m happy to report that our guest today, Brian Reid, the Chief Economist at the Investment Company Institute or ICI, shares that goal and provides some great food for thought for you. He addresses some recent stories you might have come across such as “Are 401(k) Plans A Failed Experiment”, and were “Employees Better off Under Pension Plans”. He also provides some context on the other side of the conversation we had a few episodes ago about State Run Retirement Plans. As I said in that episode, not everyone is convinced that they are ready for prime time. Now, you may or may not agree with all of his points, but what I really appreciated is that Brian is armed with research, facts and he does a great job keeping the conversation engaging and thought provoking!
Brian K. Reid is chief economist at the Investment Company Institute (ICI). Reid oversees the Institute’s statistical collections and its research on the US and global funds, financial markets, US retirement market, and investor demographics. His research and analysis focuses on financial institutions and markets, investor trends, and the impact of regulation on funds, their investors, and the markets. Before joining the Institute, Reid worked as a staff economist in the Monetary Affairs Division at the Federal Reserve Board. Reid graduated from the University of Wisconsin–Madison with honors and holds a PhD in economics from the University of Michigan.