This report will attempt to pull together
key findings and information from research
and effectively “collect” the most credible
thinking and analysis of the present to look
ahead to the future.
It will attempt to combine disparate,
fragmented information and insight to
create a comprehensive, readable,
digestible report about financial and
economic trends related to retirement. It
ultimately will serve as a “knowledge
work” with practical applications and
usable insights.
Monday, August 3, 2009

The report is designed to be forward-
looking. A unique aspect of this report for
sponsors would be its objectivity; you
would be signing on with an editor and
researcher concerned with the future of
retirement, after two decades of experience
in this area. The style and format would be
report-like but with different voices of
experts interwoven into the text which
represent the various facets of retirement
issues.
I would envision interviewing identified
experts from your organization to support
other research or information relevant to
the topic at hand. I plan to only solicit a
select few sponsors for this project to
maintain the integrity and authority of the
document.
Monday, August 3, 2009

Current state of
affairs
• Overview of where we have been
• State of financial markets
• Volatility prospects
• Returns
• Investor sentiment
• Regulatory efforts
Monday, August 3, 2009

Current state of
affairs
• U.S. retirement market asset and trend
projections
• Losses to date and recovery prospects
• Issues pertaining to global forces
• Observed or perceived realignments
Monday, August 3, 2009

Current state of
affairs
• Financial crisis and it aftermath
• Problems of risky behavior
• Other countries perspectives of U.S.
• China-U.S. creditor-debtor dynamic and
its meaning
• U.S. as safehaven or other?
Monday, August 3, 2009

Current state of
affairs
• Economic growth prospects
• Inflation prospects
• Energy prices
• Fed actions
• Health care reform
• Global factors
Monday, August 3, 2009

Pressure points
• Demography, U.S. and global highlights
• Health care
• Reform specifics and outlook, particularly
Medicare
• Medicare macro and micro trends (benefits
growth areas)
Monday, August 3, 2009

Pressure points
• Social Security, state of
• Deficits and their impact going forward
• On long-term interest rates
• Other impacts such as crowding out
investments which lead to growth
Monday, August 3, 2009

Pressure points
• Pension funds’ sustainability issues
• Globalized financial markets: the good
the bad, and the ugly
• Workforce declines due to retirements
Monday, August 3, 2009

Issues for Fiduciaries
and retirees
• Fed’s ability to balance interest rates to
control inflation and encourage
economic growth
• Realigning priorities for retirees
• Balancing longevity risk vs. market risk
• State of 401(k)s, target date funds, etc.
• Liquidity issues ahead
Monday, August 3, 2009

Issues for Fiduciaries
and retirees
• Transparency in theory and practice
• Vulnerable populations, particularly
women
Monday, August 3, 2009

Recovery moving ahead
• Restoring trust
• Opportunities for a more balanced global
economy, ie., that U.S. consumption isn’t
driving global output to same extent. How
that might look.
• New insights gleaned by financial market
players
• Changes to retirement security or new
frameworks
Monday, August 3, 2009

Other information
• I would like to commence work by early September. I would expect a
rough draft for review in December. A designed report would ready
by February 2010 for release to your designated recipients and for the
RSI’s purposes.
• Please see retirementsecurityinstitute.com for work on this topic and
www.conceptelemental.com for other publications. Call Jennifer
Warren at 214.906.7695 for further discussions or information or
email: jwarren@retirementsecurityinstitute.com.
Monday, August 3, 2009