“broadly enough to pay folks full retirement benefits for the
next 75 years.”
She also says there’s “very little evidence” that many
employees have been raiding their 401(k) accounts in the
pandemic. One fact supporting this argument is that many of
those who lost their jobs over the past year or so largely didn’t
have 401(k) plans.
Meanwhile in the private sector, Thasunda Brown Duckettis the new CEO of financialservices giant TIAA, succeeding Roger Ferguson Jr. Asthe firm’s first female CEO,Duckett has broken a glass ceiling at the organization — justas Jane Fraser did at Citigroupin March.
TIAA, a 103-year-old lifeinsurer and annuity provider,has a large non-insurance assetmanagement operation withAs for Duckett, she led consumer banking at JP MorganChase since 2016. This entailed directing banking operations with about $600 billion in deposits, 4,900 branches and
40,000 employees. She also was in charge of the branch andmarket expansion, as well as digital account engagement.
Duckett’s family rose from the ashes, literally. TheirLouisiana home was lost after the Ku Klux Klan set it on fire.The family ended up in Texas, where Duckett got her bachelor’s in finance and marketing from the University of Houstonand a master’s degree from Baylor University.
Economist Laurence Kotlikoff is the William FairfieldWarren Professor at Boston University and a nationallyrecognized Social Security and retirement expert.
In 2016, Kotlikoff ran for U.S. president as an independent,largely to highlight his concern with the ballooning U.S. debt.Today, he continues to speak out on U.S. fiscal policy and hasadvised President Biden to scrap Social Security and start anew.
Kotlikoff also shares his views on how investors can improvetheir retirement savings or get more out of their retirementbenefits. This includes describing how cash-strapped seniorscan get the most out of Social Security and tap into their homeequity via reverse mortgages. He’s a prolific writer on retirement and sells web-based software such as “Maximize mySocial Security,” often used by advisors.
Marcia Mantell is an “advisor’s advisor” when it comes to retirement consulting. Her firm, Mantell Retirement Consulting, hasbeen busy offering insights on strategic retirement businessdevelopment and marketing communications services since 2005.
She writes frequent blog posts on these topics, has authoredbooks on women and retirement, and trains advisors on howto best work with clients, especially when it comes to SocialSecurity, Medicare and benefits for divorced spouses. She alsohosts workshops for women on the topic.
In addition, Mantell provides straight talk about whatdivorced women can and can’t do in claiming an ex’s SocialSecurity benefits. (No, they can’t get half of his and all ofhers — and must pick one, she points out.)
Ed Slott, a nationallyrecognized expert onfinancial planning andindividual retirementaccounts, just launcheda self-study program onretirement distributionand tax planning withThe American College ofFinancial Services. Slott,who leads Ed Slott andCompany, also recentlyauthored the popular book “The New Retirement SavingsTime Bomb.” His insights are considered must-reads by financial advisors, CPAs and attorneys.