(PRWEB) March 15, 2013
Attorneys, actuaries, economists, educators and financial planners will discuss the effects the Wall Street financial crisis and long-term unemployment are having on the American economy when The John Marshall Law School in Chicago presents “American Retirement Crisis: What Can Be Done?,” a day-long symposium on April 15, 2013.
The law school’s Center for Tax Law and Employee Benefits will host the discussion as its 11th Annual Employee Benefits Symposium. The program begins at 9 a.m. and will conclude at 4:30 p.m. Moderator and keynote speaker will be Carol A. Bogosian, owner of CAB Consulting.
“This is an extremely timely topic that has government regulators, employers and employees worried as to whether retirees will have sufficient income during retirement and not outlive their savings, and whether their living standards will be eroded by investment losses,” said Professor Kathryn Kennedy, director of the Center for Tax Law and Employee Benefits.
The recently released General Accounting Office (GAO) report “Cost of the Financial Crisis – Your Retirement” documents the devastating financial toll brought on by the 2007-2009 financial crisis and its impacts on retirement savings. The report documents how the long-term unemployed have stopped saving for retirement and started drawing down their retirement savings for living expenses. The report illustrates how a hypothetical worker with $70,000 in retirement savings at age 55 will need to continue to work another 5.5 years if he or she withdrew 50 percent of the savings during a two-year period of unemployment.
The symposium topics will be:
There is a $50 fee for this program. Attorneys can earn up to six CLE credits. Registrations are being accepted through April 8 at events.jmls.edu/EBsymposium. For additional information, contact Amy Berkowitz in the Center for Tax Law and Employee Benefits at 312.987.2380.