Venerable investment firm First Eagle Investment Management announced Monday that it has teamed with the equally venerable Boston College Center for Retirement Research for a multi-year partnership. Initially, CRR and First Eagle will collaborate and publish a series of papers on key challenges faced by retirement savers in the years leading up to and while in retirement.
Topics will address how different workers save in their company-sponsored plans, what affects spending in retirement, and the impact of healthcare expenses for different segments of the retiree population.
In addition, First Eagle and CRR “plan to leverage their respective strengths and capabilities” to develop a customized, interactive platform that plan sponsors, financial advisors and plan participants can use to establish goals, project key milestones, and take positive action “on the journey towards a secure retirement.”
“Lack of preparedness for a comfortable retirement, including the shortfall in adequate retirement savings, is one of our country’s biggest social problems,” Mehdi Mahmud, CEO and president of First Eagle Investment Management, said in a statement. “We believe that First Eagle’s philosophy—a focus on investing prudently over the long-term with an emphasis on downside protection—can help those saving at all stages of their financial lives. Through our partnership with CRR, we hope to develop awareness, insights and solutions that can help sponsors and advisors, as well as policymakers, address the challenges savers face.”
“We are delighted to be working with First Eagle and appreciate its commitment to addressing the many retirement challenges facing Americans today,” added Alicia Munnell, CRR’s director. “Our different, but complementary, perspectives will produce unique insights, and we look forward to a fruitful partnership.”
With more than 20 years serving financial markets, John Sullivan is the former editor-in-chief of Investment Advisor magazine and retirement editor of ThinkAdvisor.com. Sullivan is also the former editor of Boomer Market Advisor and Bank Advisor magazines, and has a background in the insurance and investment industries in addition to his journalism roots.
