Description: The SECURE Act of 2019 requires an annual disclosure to participants in defined contribution plans. The intention is to help participants understand the relationship between their account balances and the estimated retirement income—that might be provided from those balances. But the disclosure requirements lack the features needed to provide meaningful information to many participants, which can be misleading if not well understood. Consequently, this provides an opportunity for actuaries to work with retirement plan sponsors to improve the disclosures.

Description: MacGinnitie discusses how retirement may change in the 21st century. First, he discusses what forces are shaping current retirement trends and what might happen to redefine retirement in the 21st century. He then examines what this might mean for private pension systems, and how actuaries can adapt.