‘Drucker Apps’ 7/9/10: Empty Nest Eggs

The Drucker Institute at Claremont Graduate University today added a new topic to Drucker Apps, an ongoing conversation about bettering society through effective management and responsible leadership.

This latest addition to Drucker Apps was inspired by beverage giant Diageo’s move last week to transfer 2.5 million barrels of aging whiskey, valued at $645 million, to help plug the deficit faced by its pension fund.

Taking part in this running dialogue on the future of retirement security will be bestselling author Roger Lowenstein; human resources consultant Ed Gubman; former U.S. Treasury official Alicia Munnell and others with insights into the issue.

A student of corporate finance and demographics, Peter Drucker warned as early as 1950 that “the security which the new pensions contracts promise the old and aging employee will prove to be mere ‘pie in the sky.’” By 2001, he noted that “young and middle-aged people at work suspect that there will not be enough pension money to go round when they themselves reach traditional retirement age.”

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