What We Learned During Day 3 of #NCPERSACE17
The last day of the 2017 Annual Conference & Exhibition (ACE) ended with interesting discussions surrounding Oregon & California's Secure Choice programs, artificial intelligence, and the economic consquences of prevailing pension reforms.
1. When California Secure Choice conducted research for their feasibility study, they found that if people have to check a box to participate, only 15-20% will opt in, but if you say you're in it unless you opt out, 80% will stay in the program.
2. The coming years will be the fight to preserve the idea of retiring with dignity, for everyone, in the U.S.
3. Having the right managers is the key to high returns in venture capital markets. As is building a high-quality, concentrated portfolio of Venture managers; keeping a long-term investment horizon; managing consistent exposure across time (and cycle).
4. Technology advances are accelerating rapidly and investors can access this transformation to generate strong financial returns.
5. What could go wrong in the U.S. economy? US delinquent car loans are at a 8-year risk; household debt & student loan debt is rising; energy prices could drop again; China debt/ GDP exceeds 250%.
6. If we continue to dismantle public pensions, we'll inflict $3.3 trillion damage to our economy in 2025.