Paul Schott Stevens, president and CEO of the Investment Company Institute, will discuss proposals to modify America’s retirement saving system, unveiling new research on Americans’ attitudes toward 401(k)s and responses to current market conditions, at a National Press Club Newsmaker at 10 a.m. on Friday, December 19, in the Zenger Room, 13th floor, 529 14th St. NW, Washington, D.C.
In light of losses suffered in the current market turmoil, some policymakers have been questioning the effectiveness of our retirement saving system, particularly 401(k) plans. At the Newsmaker, Stevens will release a white paper based on ICI’s exclusive survey research, in which Americans clearly tell Washington that they believe in the 401(k) system and reject proposals to change the tax or investment approach to 401(k)s.
Stevens will also discuss ICI’s extensive research-based on the nation’s largest database of 401(k) participants-on how persistent savers recovered from the 2000-03 market downturn, which until now was the worst bear market since the Depression. And he will address the incoming Obama Administration’s priorities for retirement security; recent moves in Congress to offer relief for retirees, and such longer-term priorities as the need to fix Social Security.
ICI is the national trade association for mutual funds, which manage half of the assets in 401(k) and other defined contribution retirement plans. ICI conducts extensive research on retirement savings and other issues.
D.C.