Notable quotes from the Managing Retirement Income Conference

Speakers expressed some interesting opinions at the Managing Retirement Income Conference on Feb. 10. Their comments are paraphrased below.

• It'll take at least two years at 5% equity returns for people to make back what their 401(k) plans lost in the 2008  stock market decline.--Jack L. VanDerhei, Employee Benefit Research Institute
  
• Retirement will turn out to have been a twentieth century retirement phenomenon. Fewer people can afford our concept of retirement because of longer lives and all three legs of the retirement stool getting shorter.--Larry Cohen, SRI Consulting
  
• Only one in six LIMRA survey respondents have taken action--mostly reallocating balances--related to the economic crisis. Respondents are planning to reduce debt, delay making investments, and reduce plan contributions.--Bob Kerzner, LIMRA International
• A tremendous demand for financial advice is coming, but people lack confidence in financial advisors.--Bill Dwyer, LPL Financial Services
• Top earners might be willing to give up receiving Social Security payments, which they don't need, in return for not paying more for Social Security--John Murphy, Oppenheimer Funds
• It's a myth that income annuities reduce liquidity and your children's inheritance. Used properly, they can allow your assets to grow. --Steve Deschenes, MassMutual
• There are three categories of managed payout funds: perpetual horizon endowment, horizon targeted self-annuitizing, and dollar payout targeting.--Richard Fulmer, Russell Investments

Related post: "Highlights from the Managing Retirement Income Conference"

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Susan B. Weiner, CFA
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