Sylvester Schieber - Peter L. Bernstein Award Winner 2016
U.S. Retirement Policy Considerations for the 21st Century
The Journal of Retirement
Sylvester J. Schieber has been chosen as the winner of the Peter L. Bernstein Award for his article that discusses solutions for the retirement crisis facing U.S. workers today. The article advises that bolstering Social Security for low earners is the surest way to provide them retirement income security. Further, widening retirement savings opportunities for workers through broader employer sponsorship of plans with modern behavioral features that encourage participation, reasonable savings levels, and efficient investment opportunities will improve the retirement security of other segments of the workforce.
The winning article was chosen through a blind review process by an independent committee that included Gary Gastineau (ETF Consultants LLC), William Goetzmann (Yale School of Management), and Ronald Kahn (BlackRock). Mr. Goetzmann, commented that the article is “A thorough and thoughtful study of retirement savings risks that takes into account current information about the major factors that will affect them.” In addition, Mr. Gastineau said, “Our unanimous choice of the winner reflects its breadth and depth and the clarity it brought to some often neglected retirement issues.” Mr. Kahn concurred, noting that the work is “A contribution to the literature on Social Security and retirement issues, particularly due to its focus on the challenges facing long career, low wage employees.”
Rob Arnott of Research Affiliates, the sponsor of the award commented, “I once again welcome the opportunity to pay tribute to the memory of my good friend and co-author, Peter Bernstein, by recognizing the Peter L. Bernstein Award–winning article for 2016, “U.S. Retirement Policy Considerations for the 21st Century” by Sylvester J. Schieber.
The selection of this article, published in The Journal of Retirement, acknowledges the importance of retirement policy as a research topic. This attention is warranted and necessary as a step in improving outcomes for future retirees, their families, and more broadly, the macroeconomic health of our nation."
Upon receiving news of the award, Dr. Schieber emphasized the practical implications of the work: “I am surprised but deeply honored to be given the 2016 Peter L. Bernstein Award. My analysis of ways to improve U.S. retirement policies will hopefully help motivate policymakers to consider taking up the important issues addressed in the article for which I have been recognized.”
The author will share an award of $5,000, which has been generously provided by Research Affiliates LLC. 