Speaking Engagement Recap
May 13, 2021
Georgetown Center for Retirement Initiatives
Securing a Reliable Income in Retirement
Faegre Drinker Partner Bradford Campbell will participate in a panel discussion with the Georgetown Center for Retirement Initiatives exploring the potential to use collective defined contribution (CDC) plans as a source of lifetime income.
Private sector workers in the United States continue to struggle to find a cost-effective way of securing a reliable income in retirement. As defined benefit plans have become less common, many workers now face a costly and complex set of decisions about how to turn the savings in their defined contribution plans into lifetime income. The U.S. is not alone in facing this challenge. Recent studies of CDC plan experience in Europe suggest that a CDC plan can be simple and low-cost in design and generate a retirement income at least 30% higher than a typical DC plan.