AARP US-UK Dialogue on Pensions

Tuesday, July 19

Time	Activity
4:00 PM – 6:30 PM	Early Registration Registration desk is located in front of the Montpelier Room at the Madison Hotel
6:45 PM	Coaches depart in front of the Madison Hotel to transfer conference participants to the Phillips Collection
7:00 PM – 9:00 PM	Welcome Reception The Phillips Collection 1600 21st Street, NW Washington, DC

Wednesday, July 20

Time

Activity

8:00 AM – 8:50 AM

Registration & Breakfast
The Madison Hotel, Dolley Madison Ballroom

8:55 AM – 9:00 AM

Chris Hansen, Group Executive Officer for State and National Initiatives, AARP Introduces William D. Novelli

9:00 AM – 9:15 AM

Opening Remarks
William D. Novelli
Chief Executive Officer, AARP

9:15 AM – 10:20 AM

SESSION I: Aging Society and Demographic Change – Its Economic Implications

Discussion of the challenges and opportunities posed to the UK and US by the aging population, with a focus on the changing face of pensions, labor markets, health care, and retirement security

Chris Dobson
Secretariat, UK Pensions Commission

(The Hon.) Martha Farnsworth Riche, Ph.D.
Center for the Study of Economics and Society, Cornell University

10:20 AM – 10:35 AM

Short Break

10:35 AM – 12:05 PM

SESSION II: Pension Protection in the US and UK – Lessons the UK Can Learn

Discussion on the challenges facing defined benefit pension plans and the pension insurance programs in the US and UK and policy options for strengthening these systems, with a particular focus on how the recently formed Pension Protection Fund can learn from the experiences of the Pension Benefit Guaranty Corporation

Chris Hansen (Session Chair)
Group Executive Officer for State and National Initiatives, AARP

Bradley Belt
Executive Director, Pension Benefit Guarantee Corporation

Lawrence Churchill
Head, UK Pension Protection Fund

The Honorable Stephen Timms
UK Minister of State for Pensions

Captain Duane Woerth
President, Airline Pilots Association International

12:05 PM – 12:07 PM

Chris Hansen, Group Executive Officer for State and National Initiatives, AARP Introduces Morning Session Closing Keynote Speaker

12:07 PM – 12:25 PM

Morning Session Closing Keynote
The Honorable Nigel Waterson
UK Shadow Minister for Pensions

12:25 PM – 1:20 PM

Lunch Break

1:20 PM – 1:25 PM

William D. Novelli, CEO, AARP Introduces Mid-Day Keynote Speaker

1:25 PM – 1:55 PM

Mid-Day Keynote Address
The Honorable Stephen Timms
UK Minister of State for Pensions

1:55 PM – 2:00 PM

Short Break

2:00 PM – 4:45 PM

SESSION III: Making Pensions Attractive to Individuals and Employers
Break Out Session (2 Rooms)

	Scheme design Montpelier Room 1	Employers and employees Montpelier Room 2
2:00 PM – 3:15 PM	Do hybrid plans offer a better allocation of risk, and are they a feasible way forward? Discussion between representatives of government, business, academia and consumers on the implications of shifting to hybrid pension plans	What benefits are there for employers who make financial contributions to a pension? Discussion on the factors that influence an employer’s decision to contribute to their employees’ pension and what government can do, short of a mandate, to raise employer contribution levels
	Russel Haque UK Department for Work and Pensions (Session Chair) James Klein President, American Benefits Council Karen Friedman Policy Director, Pension Rights Center David McCarthy Tanaka Business School, Imperial College	Janet Hill Head of Planning and Saving for Retirement Policy, UK Department of Work and Pensions (Session Chair) Clement Van de Coevering UK Department for Work and Pensions Jay Sheth Senior Policy Advisor, Confederation of British Industry Mark Ugoretz President, ERISA Industry Committee (ERIC)
3:15 PM – 3:30 PM	Short Break
3:30 PM – 4:45 PM	A detailed discussion of the US experience with auto-enrollment and lessons the UK can learn Discussion of research based findings on how auto-enrollment techniques affect employee participation and savings rates in workplace pension schemes	Effective communication of pension information Discussion of the factors that influence employees’ participation in workplace pension schemes and methods that can be employed by government, employers and pension providers to maximize participation
	Ian Patton UK Department for Work and Pensions (Session Chair) Peter Orszag Joseph A. Pechman Senior Fellow, The Brookings Institution Jack Vanderhei Fellow, Employee Benefit Research Institute (EBRI)	Dallas Salisbury President and CEO, Employee Benefit Research Institute (EBRI) (Session Chair) Phil Wynn Owen Director General for Strategy and Pensions, UK Department for Work and Pensions

4:45 PM – 5:00 PM

Closing Remarks (2 Rooms)

Ladan Manteghi (Montpelier Room 1)
Director, AARP Office of International Affairs
Dallas Salisbury (Montpelier Room 2)
President and CEO, Employee Benefit Research Institute

5:15 PM

Coaches Depart For British Embassy
Board in front of Madison Hotel

5:30 PM – 7:15 PM

British Embassy Reception
3100 Massachusetts Avenue, NW, Washington, DC

7:15 PM – 7:30 PM

Transfer back to the Madison Hotel

7:30 PM – 9:00 PM

Dinner at Palette
1177 15th Street, NW, Washington, DC

Thursday, July 21

Time	Activity
8:00 AM – 9:00 AM	Continental Breakfast The Madison Hotel, Dolley Madison Ballroom *All sessions will be held in the Dolley Madison Ballroom
9:00 AM – 9:15 AM	Opening Remarks Dallas Salisbury President and CEO, Employee Benefit Research Institute (EBRI)
9:15 AM – 10:30 AM	SESSION IV: How Flexible Should Pension Savings Be - Does More Liquidity Lead to More Savings? What is the 401K Experience? Discussion on how increasing access to retirement savings affects employee savings rates, and whether allowing access to funds leads to an overall decrease or increase in savings Robert Laslett Chief Economist for Pensions and Director of Strategic Analysis, UK Department for Work and Pensions (Session Chair) Alan Pickering Partner, Watson Wyatt Paul Stevens President, Investment Company Institute Steve Utkus Director, Vanguard Center for Retirement Research
10:30 AM – 10:40 AM	Short break
10:40 AM – 12:30 PM	SESSION V: Financial Education Schemes in the US and UK Both In and Out of Schools. How Do Financial Literacy Programs and Their Effectiveness in the US and UK Compare?
10:40 AM – 10:45 AM	Nancy LeaMond, Group Executive Officer for Social Impact, AARP Introduces Session Keynote Speaker
10:45 AM – 11:00 AM	Session Keynote Speech The Honorable Daniel Akaka United States Senator
11:00 AM – 11:30 AM	Presentations of US and UK Reports on Financial Education Lois Vitt Founding Director, Institute for Socio-Financial Studies (Presents US Report) Janet Hill Head of Planning and Saving for Retirement Policy, UK Department for Work and Pensions (Presents UK Report)
11:30 AM – 11:40 AM	Q & A on Financial Education Studies
11:40 AM – 12:10 PM	National Strategies in the US and UK for Addressing Financial Literacy Dan Iannicola, Jr. Deputy Assistant Secretary for Financial Education, Department of the Treasury Shaun Mundy Head of Financial Capability Department, UK Financial Services Authority
12:10 PM – 12:20 PM	Q & A on Financial Literacy National Strategies
12:20 PM – 12:30 PM	Session Closing Remarks Nancy LeaMond Group Executive Officer for Social Impact, AARP (Session Chair)
12:30 PM – 1:30 PM	Lunch and Keynote Address Montpelier Room
12:50 PM – 12:55 PM	Chris Hansen, Group Executive Director for State and National Initiatives, AARP Introduces Luncheon Keynote Speaker
12:55 PM – 1:20 PM	Keynote Address The Honorable David Walker US Comptroller General
1:20 PM – 1:30 PM	Q& A for David Walker
1:30 PM – 1:50 PM	Short Break
1:50 PM	Participants return to the Dolley Madison Ballroom
1:50 PM – 3:05 PM	Session VI: Women and Pensions – How Can We Close the Gap? How Much of the Gap is Caused by the Pay Gap? Discussion between representatives of industry, non-profit organizations, and labor unions on the factors leading to lower retirement savings rates of women and strategies that can help bolster women’s savings and retirement security. Mervyn Kohler Head of Public Affairs, Help the Aged (Session Chair) Cindy Hounsell Executive Director, Women’s Institute for a Secure Retirement (WISER) Helen McCarthy Head of Pensions and Savings Development, Association of British Insurers (ABI) Michelle Lewis Pensions Adviser, Trade Union Congress (TUC)
3:05 PM – 3:20 PM	Closing Remarks and US Legislative Update David Certner Director of Federal Affairs, AARP