Target-Date Funds’ Glide Paths Don’t Always Match Plan Participant Needs
Workers are often subject to the same glide path despite differences in salary and expected retirement age.
Aron Szapiro
Aron Szapiro is head of retirement studies and public policy for Morningstar. Szapiro is responsible for developing research reports on policy matters, coordinating official responses to regulatory proposals, and providing investor-focused comments on policy issues to clients and the press. He also chairs Morningstar’s Public Policy Council. Szapiro also heads the Morningstar Center for Retirement Studies. His research has been covered in The New York Times, The Wall Street Journal, The Washington Post, The Journal of Retirement, and on National Public Radio. Follow Aron on Twitter: @AronSzapiro
Before assuming his current role in June 2021, he served as Morningstar’s head of policy research and as policy and finance expert at HelloWallet, a former subsidiary of Morningstar. Previously, he was a senior analyst at the U.S. Government Accountability Office (GAO), specializing in retirement security issues and pension plan policy. He also worked at the New Jersey General Assembly Majority Office.
Szapiro holds a bachelor’s degree in history from Grinnell College and a master’s in public policy from Johns Hopkins University.
Latest
What We Told the SEC About Climate-Related Risk Disclosures
Morningstar supports the commission’s new rule and offers suggestions to improve it.
A New Bill Would Require Automatic 401(k) Plan Enrollment
But with many exemptions, the legislation is unlikely to make a substantial difference.
Does Investing in ESG Hurt Pension Plans?
Studies focused on public pensions do not tell us much about 401(k)s and ESG.
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It probably comes down to how big a company you work for.
An Investor’s Guide to the Biden Administration in 2022
Some legislative priorities tracked with our expectations in 2021, but the fate of Build Back Better is still unclear.
Labor Department Proposal to Clear Way for Retirement Plans to Consider ESG
We believe this new rule is a step in the right direction for retirement savers.
Expanding the Saver’s Credit to Help More People
A few changes to the Saver’s Credit could have long-term benefits for lower-income workers.
Baby Bonds: Turning the Next Generation Into Investors
The program could make strides to narrow the racial wealth gap, but the details still need to be worked out.
Should Your Employer Default You Into an Annuity?
Yes--but only if it is a good one.
Why the Government Should Learn Which Annuities Are Useful
The right policy could make annuities easier to use for retirement savers.
All Signs Still Point to an Increase in the Corporate Business Tax
The political back-and-forth on tax increases isn't likely to change the outcome.
Top Earners, Businesses Likely to See Tax Increases
We think tax hikes for businesses are inevitable as Democrats seek infrastructure upgrades, healthcare expansion, and other priorities.
Labor Department Says It Won’t Enforce ESG Rule
We believe without this action, the rule could have reduced the availability of investments using ESG considerations.
An Investor’s Guide to the Biden Administration
A look at the tools the president can wield and the public policy he might pursue.
Democrats Sweep in Georgia to Win Senate Control--Now What?
Corporate business taxes set to rise, but not up to 2016 levels.
Harnessing the Power of Defaults to Save for Emergencies
Lessons learned (so far) from the coronavirus and retirement savers.
How Should Baby Bonds Be Invested?
These tools hold enormous promise, but there are some implementation challenges.
Tabulating Results Past Election Night Is Normal
All the votes need to be counted, and it’s not unusual for different batches of ballots to suggest very different potential outcomes that can influence short-term sentiment.
How the Election May Impact Policy
Policies for financial advice, 401(k)s, and more can take a turn depending on results.
Can Baby Bonds Shrink the Racial Wealth Gap?
Legislation before Congress could map out a path to greater racial wealth equity.
Biden's 401(k) Plan Is Vague, but Worth Paying Attention to
Joe Biden’s tax plan would overhaul retirement plan tax benefits.
Where to Turn When the Political Climate Heats Up
Amy Walter of The Cook Political Report shared her insights at our Morningstar Investment Conference.
Fiduciary, Best Interest, or Something Else?
The election will determine the next move in the ongoing battle over the regulation of advice.
Sustainable Investing and the Election
Part I of our series on the election and ordinary investors.
Another Fiduciary Rule?
What the Department of Labor’s new proposal means for ordinary investors.
How Asset Managers Are Driving ESG Investing
Policymakers can take steps to help boost consumer confidence in these products.
Sharpening the Tools of the ESG Investor: Morningstar’s View
Improvements to ESG metrics and disclosures matter for all investors.
How to Improve Retirement Plans for Teachers and Other Public Servants
One simple fix to bring down investment costs.
SEC's Plan to Loosen Crowdfunding Restrictions Is a Bad Idea
Investors should beware of the risks.
What Is the Government Doing to Prop Up the Economy?
We look at the fiscal and monetary policies recently deployed amid the coronavirus pandemic to see what's working and what else needs to be done.
The Next Stimulus Bill Will Need to Bail Out State and Local Governments
As the bill is negotiated, expect some volatility among municipal bonds.
Congress to Help Retirees Cope With Market Downturn
Stimulus bill includes provision that suspends required minimum distributions for retirement accounts.
Congress to the Rescue?
Yes, really. A fiscal stimulus could significantly help Americans manage the current economic crisis.
Reforming the U.S. 401(k) System
Morningstar's director of policy research offers some reflections on the state of affairs.
The Year-End Appropriation Bill and Your Retirement
The good, bad, and confusing policy changes and what they mean for you.
Beware of Rent Seekers
Regulation will shape who profits from cannabis.
The IRS Takes a Big Step Toward a Small Reduction in RMDs
But these changes will only help so much.
Another Small Crack in the Retirement System
Congress looks for further ways to turn our retirement system to a general savings system.
Fiduciary, Best Interest, or Something Else?
The election will determine the next move in the ongoing battle over the regulation of advice.
Why Are IRA Limits So Much Lower Than Those for 401(k)s?
It's not as crazy as it sounds, but the answer won't make you happy.
The End of Favorable Tax Treatment for Inherited IRAs?
Congress’ next “pay-for” is not as significant as it seems at first glance.
Still Living Dangerously With a Debt Ceiling
Congress really needs to do away with an arcane tripwire that might one day blow up the economy.
How Did 529 Plans Become So Confusing?
An accident of history leads to opportunities and challenges for parents saving for college.
What Should We Make of Regulation Best Interest?
The SEC has not gone as far as many would like, but it’s taken some important steps.
What Investors Need to Know About Regulation Best Interest
Watch Morningstar policy research expert Aron Szapiro weigh in on the SEC's adoption of the regulation and what it means for investors.
Can Workers Tackle Student Loans and Retirement?
As this debt increases, research shows that less is saved for the long term. But employers, and lawmakers, are acting to help.
2 Retirement Plan Proposals, Many Questions
Expanded or open MEPs address some problems, but more action is needed.
What Changes to the Thrift Savings Plan Mean for Investors
Some funds in the retirement plan for federal employees are shifting from a conservative glide path to a more typical one.
Is There Really a Retirement Crisis?
Morningstar director of policy research Aron Szapiro digs into the numbers.