Michelle Seitz

Retirement Security in the Wake of COVID-19 - Conference Call Series

Paul Irving, Marcie Frost, Michael Milken, Penny Pennington, Michelle Seitz

The Milken Institute convened financial leaders to analyze the dual threats of the pandemic and a projected $150 billion rise in the U.S. retirement savings deficit. Experts from Edward Jones, CalPERS, and Russell Investments highlighted the critical need to shift from generic index targets to personalized strategies that address longevity risk and the aging demographic's healthcare costs. Participants agreed that mitigating the crisis requires structural adjustments to retirement age, diversified Social Security portfolios, and the widespread adoption of automated savings mechanisms for gig workers.