There is something close to a consensus that our current retirement system – for most people, Social Security and access to a 401(k) or 403(b) plan – is not optimal, although there is disagreement about whether the system is a failure or just not as successful as it might be. Since ERISA’s enactment there has been considerable legislative and regulatory adjustment to the statute, some minor, some major, but we are still stuck with a system that seems more path dependent than intelligently designed. Is it time to give up on the current system and design a replacement system that would be universal and provide an adequate and secure benefit? Or can the current system be tweaked into a system that works better for more people? The panelists will discuss these questions, focusing on the shortcomings of our current system, different approaches to addressing those shortcomings, and the political prospects for either meaningful incremental or fundamental reform.
Business meeting at program conclusion.