This week we have one of my early favorites from the archives featuring my conversation with Jerry Patterson, the Senior Vice President of Retirement & Investor Services at Principal Financial Group.  Jerry is also a national speaker and writer on a broad range of financial topics and is a resident blogger for the Huffington Post where he focuses on financial wellness and overcoming human nature to attain better financial security outcomes.  We focus what employers should know about what it means for their employees to make the transition into retirement. 

One of the biggest things they have to come to grips with is how they are going to live without a “paycheck” for the rest of their life.  While this is a highly personal and individual decision, if you are their employer at the time, the decision about when and if they are ready to make the transition into retirement can have a big impact on you and your organization!  Jerry generously shares his experience, research and advice on how participants get tripped up by admiring a balance, not understanding fixed and variable expenses and falling victim to retirement drift.  We also spend time talking about strategies employers may explore to help their employees with decumulation, or converting the balances they have accumulated over their years into a stream of income. 

Be sure to check back next week as we will have a new episode exploring The Factors to Factor in on Factor Investing!

Guest Bio

Jerry Patterson has been a presence in the financial services industry for more than 25 years where he held a number of diverse and senior roles at some of the nation’s largest financial institutions.  Patterson currently serves as senior vice president, Retirement & Investor Services with the Principal Financial Group where he leads the company’s annuity, individual investor services, and broader retirement income efforts.  Key areas of focus in his current role include driving better retirement outcomes through more effective retirement plan designs, behavior-based education and engagement strategies, getting more Americans to understand and embrace the power of guaranteed retirement income, and addressing the unique and different needs of emerging Millennials and retiring Baby Boomers. 

Patterson is a national speaker and writer on a broad range of issues and topics, including financial and estate planning, behavioral finance, healthcare, wellness, Millennials, Boomers, and retirement.  He is a resident blogger for the Huffington Post where he focuses on financial wellness and overcoming human nature to attain better financial security outcomes.  He can be followed @JerryWPatterson.

Patterson is an active participant in a number of industry and community organizations focused on retirement security and the arts.  He is currently an active board member for the Insured Retirement Institute, Ballet Des Moines, and Des Moines Social Club.  Patterson’s education and early career focus was on accounting and law and he is a member of the Kansas and Missouri bars. 

401(k) Fridays Podcast Overview

Struggling with a fiduciary issue, looking for strategies to improve employee retirement outcomes or curious about the impact of current events on your workplace retirement plan? We've had conversations with retirement industry leaders to address these and other relevant topics! You can easily explore over 100 prior on-demand audio interviews here. Don't forget to subscribe as we release a new episode each Friday!