For many years, phased retirement was discussed as a way for people to gradually transition from full-time work to total labor force exit. Although few formal phased retirement programs were implemented, many retirees work for pay after retirement, either for their former employer, for someone else, or they start a small business. The recent recession and its aftermath have encouraged people to work longer, but have also made it more difficult for workers to find jobs. As baby boomers reach traditional retirement age they are working longer, and labor force participation rates for older workers are increasing slowly. Unfortunately, advice about planning for retirement rarely includes a focus on how to successfully integrate work into retirement.
In this webinar we will review important work-related issues for employers and employees as workers plan for retirement. Presenters will discuss the retirement process and aspects of the "new retirement." Society of Actuaries' research and resources related to work and retirement, including phased retirement, will be reviewed. A case study will be discussed. Presenters will explore how implementation of the Affordable Care Act may influence decisions about retirement. Finally, presenters will offer their recommendations for a range of stakeholders.
Join Anna Rappaport, Anna Rappaport Consulting; Sally Hass, consultant; Ethan Kra, Ethan E. Kra Actuarial Services, LLC; and Chantel Sheaks, Buck Consultants, as they discuss the following topics:
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Anna Rappaport, Anna Rappaport Consulting; Sally Hass, consultant; Ethan Kra, Ethan E. Kra Actuarial Services, LLC; and Chantel Sheaks, Buck Consultants
Anna Rappaport, F.S.A., M.A.A.A. is an actuary, consultant, author, and speaker, and is a nationally and internationally recognized expert on the impact of change on retirement systems and workforce issues. She is passionate about women's retirement security and about improving employment opportunities for older Americans. Anna is a past- President of the Society of Actuaries and chairs its Committee on Post-Retirement Needs and Risks. Anna formed Anna Rappaport Consulting in 2005 after retiring from Mercer Human Resource Consulting at the end of 2004, after 28 years with the firm.
Sally Hass is a recognized leader in workplace life and retirement education. She worked as a contributing author for the Encyclopedia of Retirement and Finance and has been a frequent participant at symposia and think tanks sponsored by the National Endowment for Financial Education (NEFE). Sally was featured in a PBS special on the financial literacy crisis in America produced by NEFE. Sally's work has also been highlighted in Workplace Management, Seattle Times and The Number by Lee Eisenberg. In 2006 Sally was awarded a Benny Award in the category of Retirement Planning by Employee Benefit News. In 2008 Sally again received national recognition for workplace education excellence and received the education award from the Association for Financial Counseling and Planning Education. In 2009 Sally retired from the Weyerhaeuser Company and started her own consulting business, focusing on the effectiveness of workplace life and retirement education.
Ethan Kra was a Senior Partner and Chief Actuary-Retirement of Mercer, where he consulted in the areas of the design and funding of pension and group insurance benefits, structuring and funding of non-qualified pension benefits and the proper accounting for expense of employee benefits. He specializes in analyzing the economic and accounting implications of financing strategies and vehicles for employee and executive benefits. For over 17 years, he chaired Mercer's Actuarial Resource Network, a committee of the senior technical actuaries throughout the United States.
For over 34 years, Dr. Kra advised Mercer's largest clients on: retirement plan funding, accounting, financing, compliance and design; executive benefit funding, accounting and financing; retiree medical accounting, funding and financing; health, life and disability underwriting, financing and accounting; multiemployer plan obligations; uses of captive insurance companies for employee benefits. He also served as expert witness and provided litigation support on these issues in litigation, arbitration and mediation contexts.
Ethan is a Summa Cum Laude graduate of Yale University, where he earned his B.A. in Mathematics and was elected to Phi Beta Kappa. He holds M.A. and Ph.D. degrees in Mathematics from Yale University, where he was both a Woodrow Wilson Fellow and a National Science Fellow.
Chantel Sheaks is a Principal, Government Affairs, in the National Technical Resources Group at Buck Consultants. Her responsibilities include serving as a technical expert and spokesperson in regard to Buck's interpretation of, and position on, regulations, legislation, and court decisions. In addition, Chantel develops and maintains working relationships with key trade associations and employee benefits industry leaders. She also participates in industry groups on behalf of the firm. Chantel serves as a contributing member of the Publications group regarding external and internal technical publications, and other thought leadership activities.
Prior to joining Buck, Chantel was at Georgetown University Law Center where she served as Legislative Counsel for Tax and Benefits on its Workplace Flexibility 2010 project. Prior to that she was a Partner at McDermott Will & Emery LLP. Her expertise covers a range of issues including health care reform, health and productivity, retirement plans, phased retirement, the aging workforce, benefit plan administration, fiduciary issues, and ERISA litigation. Chantel has a J.D. from Northeastern University School of Law.