In this role, Harris will be responsible for the growth of
the firm’s multinational client portfolio in the U.S., specifically focusing on
the Midwest region, in addition to becoming global actuary to several Fortune
500 clients. Based in Chicago, Harris will report to Paul Garner, partner and
U.S. leader of the International Retirement & Investment practice.
Before joining Aon Hewitt, Harris was at Mercer as a
principal and international benefits consultant, responsible for advising
U.S.-based multinationals on a wide range of international benefits issues
including pensions accounting and valuation, merger and acquisition
transactions, expatriate retirement plan design and global benefits plan
design.
“With 25 years of international consulting experience,
Stuart had a proven track record of working with multinational corporations to
design and implement effective retirement programs,” said Paul Rangecroft, U.S.
retirement practice director at Aon Hewitt. “He will be instrumental in growing
our client relationships and opportunities in both the Midwest and nationally.”
Harris holds a degree with honors in statistics from the
University of Glasgow, Scotland. He is an associate of the U.K.’s Faculty of
Actuaries.
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An AARP Public Policy Institute (PPI) survey found that Boomer women
were one-third more likely than Boomer men to express a high degree of
financial concern (39% versus 22.3%).
Asked about level of confidence in having enough money to
live comfortably throughout retirement, 60% of women said they were not
confident versus 51% of men. Seventy-nine percent of women expressed
concern about their ability to maintain a reasonable standard of living in
retirement, whereas 73% of men said the same.
When asked about level of discomfort with current debt
levels (such as loans, mortgages or credit card debt), 48% of women said they
were uncomfortable compared with 41% of men. Regarding discomfort with their
current savings level, 64% of women expressed discomfort versus 59% of men.
Almost all Boomer women (87%) said they were worried that
income in retirement might not keep up with inflation, whereas 79% of men said
the same. More than three-quarters of women (78%) said they were concerned about
depleting savings (74% of men).
Relating to a fear of retirement income varying based on
interest rate changes, 67% of women expressed this feeling compared with 55% of
men.
The one category where the worry of Boomer men exceeded that
of Boomer women was regarding his spouse/partner’s ability to maintain the same
standard of living should he die first (55% of men versus 47% of women).
(Cont’d…)
Further survey findings include:
More
women than men said they were concerned about not being able to afford to
stay in their current home for the rest of their life (64% versus 56%);
Fifty-three
percent of women said they were unsure about being able to leave money to
children or other heirs; less than half of men (44%) shared this concern;
More
than half (57%) of women said they were worried they will have to rely on
children or other family members for financial assistance, versus 42% of
men;
Fifty-three
percent of women expressed concern about having to move in with relatives
or have relatives move in with them, whereas 38% of men said they felt the
same;
Eighty-one
percent of women said they were somewhat or very concerned about having
enough money to pay for adequate health care compared with 77% of men;
Regarding
having enough money for a long stay in a nursing home or long period of
home nursing care, 84% of women versus 78% of men said they were
concerned;
In
rating their own family’s financial well-being today, 57% of women said it
was fair or poor, compared with 52% of men; and
Sixty-percent
of women said their personal financial situation a year from now will stay
the same or become worse versus 59% of men.
The survey is based on interviews with nearly 4,000 Boomers
ages 50 to 64 during October 2010 as part of an AARP Public Policy Institute
study about the recent recession’s impact on older workers.