Monday, September 28, 2015
100 Waterfront Place, West Sacramento, CA 95605
A Briefing for the California Secure Choice Retirement Savings Investment Board
Investment Products and Program Design: How to Maximize Participation, Contribution Rates, and Financial Security in Retirement
In 2012, California created the Secure Choice Retirement Savings Investment Board, which is evaluating a program designed to offer new, affordable retirement savings options for an estimated 6.5 million California employees who do not currently have access to a retirement savings plan at work. The Board is conducting legal and market analyses to ensure the feasibility of the proposed program, and will provide recommendations to the legislature prior to implementation. As part of that effort, the Board is holding a series of monthly briefings to explore the myriad issues involved in creating an effective program, one that maximizes participation, attracts qualified plan providers, and minimizes administrative costs.
The Aspen Institute’s Initiative on Financial Security (IFS) will convene an event in conjunction with the California Secure Choice Investment Board to provide expert opinion on key design elements of the program, in order to help maximize participation and savings levels. The goal is to provide valuable input to the deliberations of the Board in areas that will include investment product selection, automatic enrollment, default savings rates, and withdrawals.
Dr. James Choi, Yale University
Kevin de León, California Senate President pro Tempore
Mark Iwry, Deputy Assistant Secretary, US Treasury
David John, Senior Strategic Policy Advisor, AARP
Bennett Kleinberg, Vice President for Institutional Investment Solutions, Prudential Retirement
Judith Miller, American Retirement Association
Ida Rademacher, Aspen Institute Initiative on Financial Security
Dr. Geoffrey Sanzenbacher, Center on Retirement Research
Dr. Fernando Torres-Gil, UCLA
The event will also be webcast live. A link to the webcast will be available here on the day of the event.