Jeffrey Brown: Saving for Retirement 'Only Half the Puzzle'

<p>Our guest on the podcast today is Dr. Jeffrey Brown, the Josef and Margot Lakonishok Professor and the Dean of the University of Illinois Gies College of Business. A key focus of Dean Brown's research is how to create sustainable retirement income, including the role of annuities, Social Security, 401(k)s, pensions and long-term care planning. He's a research affiliate at the National Bureau of Economic Research, a faculty affiliate of the Institute on Government and Policy Affairs, and a fellow at the TIAA Institute. He also serves as a trustee for TIAA. In addition, he served on the Social Security Advisory Board under President George W. Bush and was also a senior economist at the White House Council of Economic Advisers. He has published extensively on the topic of retirement security and public and private insurance markets, and he has received numerous awards for his research as well. He holds a Ph.D. in economics from MIT, and a master's in public policy from Harvard.</p><p><strong>Background</strong></p><p><a href="https://www.business.illinois.edu/jbrown/biography.html" target="_blank">Jeffrey Brown bio</a><br /><br /><a href="https://www.business.illinois.edu/jbrown/Brown-Full-CV.pdf" target="_blank">Jeffrey Brown C.V. </a><br /><br /><a href="https://www.business.illinois.edu/jbrown/publications.html" target="_blank">Jeffrey Brown publications and working papers</a> <br /><br /> </p><p><strong>Defined Contribution (DC) Plans</strong></p><p><a href="https://www.investopedia.com/terms/d/definedcontributionplan.asp" target="_blank">Defined contribution plan definition</a> <br /><br /><a href="https://www.investopedia.com/terms/d/definedbenefitpensionplan.asp" target="_blank">Defined benefit plan definition</a> <br /><br />“<a href="https://www.cnbc.com/2017/01/04/a-brief-history-of-the-401k-which-changed-how-americans-retire.html" target="_blank">A Brief History of the 401(k), Which Changed How Americans Retire</a>,” by Kathleen Elkins, CNBC.com, Jan. 4, 2017.</p><p>“<a href="https://www.ssa.gov/policy