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Penny Pennington

Showing 1–6 of 6 transcripts.

  1. Milken Institute57 min

    From Experience to Excellence: Women Redefining Business and Financial Wellness | Global Conference

    Sheryl WuDunn, Sheila Marcelo, Lauren Miller Rogen, Penny Pennington, Michele Trogni, Michelle Choney

    This panel convened financial leaders, health innovators, and care advocates to address systemic failures in institutions designed around male lifespans, highlighting that women over 45 now launch businesses at twice the rate of men despite facing significantly higher chronic illness rates and lower retirement savings. Through initiatives by Zinnia, Edward Jones, Hilarity for Charity, and Ojai.ai, the discussion proposed a holistic framework integrating financial longevity, AI-driven household management, and brain health education to transition from "work-life balance" to comprehensive power. The resulting strategy advocates for redesigned risk profiles, early protective insurance planning, and intergenerational conversations to secure the $10 trillion in assets currently held by women against the projected demographic shifts in caregiving and wealth transfer.

  2. Milken Institute1h 1m

    Financial Industry Leaders Revolutionizing America’s Retirement Landscape | Global Conference 2024

    Jennifer Ablan, Thasunda Brown Duckett, John Carter, Will Fuller, Penny Pennington, Tashanda Braunducket

    Marking the apex of the Baby Boomer retirement wave, a recent industry panel addressed a $4 trillion savings gap affecting 57 million Americans lacking employer-sponsored plans by proposing structural reforms like auto-enrollment mandates and Secure 3.0 legislation. Financial leaders from TIAA, Transamerica, Nationwide, and Edward Jones advocated for cross-industry partnerships to create guaranteed income solutions and expanded financial literacy programs specifically targeting the middle market and underserved demographics. These initiatives aim to mitigate the risk of an impending wealth transfer turning into a generational debt crisis while capitalizing on a 50,000-person advisor shortage through innovation in hybrid pension models and social impact investing.

  3. Milken Institute1h 1m

    Retirement Security: The COVID-19 Wake-Up Call

    Rick Newman, Roger W. Ferguson, Jr., Penny Pennington

    A comprehensive analysis reveals that pre-pandemic retirement insecurity was exacerbated by a $4 to $7 trillion savings shortfall and the COVID-19 crisis, which forced 11 million fewer Americans into employment and drained the nest eggs of 20% of workers. The crisis has exposed profound racial and gender disparities in wealth accumulation, prompting calls for legislative solutions such as the SECURE Act and Multiple Employer Plans to reduce administrative burdens for small businesses while addressing the projected 2033 depletion of the Social Security Trust Fund. Expert recommendations emphasize a shift toward guaranteed income streams through annuities and the adoption of automatic enrollment mechanisms to counteract longevity risks and behavioral market mistakes that threaten future financial stability.

  4. Milken Institute1h 0m

    Lessons Learned: Mitigating the Next Crisis

    Andy Serwer, Tom Finke, Penny Pennington, Emmanuel Roman, Manny Roman, Claude Grunitzky

    Representatives from Edward Jones, PIMCO, and Barings detailed their crisis preparedness strategies, highlighting how pre-pandemic simulations and established remote work infrastructures enabled rapid operational continuity during the 2020 market turmoil. The firms collectively addressed the "triple pandemic" of health, economic, and racial instability, committing to enhanced diversity initiatives while restructuring office protocols to prioritize hybrid work models and employee well-being. Looking ahead, these financial leaders forecast a volatile recovery characterized by severe credit cycle pressures in specific sectors and a permanent shift in investor risk appetite that will necessitate more rigorous stress testing and active management strategies.

  5. Milken Institute59 min

    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.

  6. Milken Institute1h 1m

    Is Retirement Extinct?

    Paul Irving, Arthur Bilger, Teresa Ghilarducci, Kathleen Kennedy Townsend, Penny Pennington, Rick McGee, Linnea McCart, Katherine Collinson

    The "Retirement is Extinct" panel examined the widening wealth and health disparities that undermine traditional retirement, highlighting how automation and student debt threaten middle-class security while leaving 60 million Americans without employer-sponsored plans. Experts including Penny P. Peddington, Kathleen Kennedy Townsend, and Teresa Ghilarducci argued for redefining retirement as a period of purpose rather than disengagement and proposed structural solutions such as a Guaranteed Retirement Account and expanded automatic enrollment legislation. The discussion concluded that overcoming these challenges requires shifting political messaging toward "peace of mind," integrating lifelong reskilling, and unlocking patient capital to ensure dignified longevity for all income tiers.