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When I'm 64 (or Thereabouts): Changes in Income from Middle Age to Old Age

Speaker Bios

March 21, 2024 • 1:30–3:00 p.m. (ET) • Virtual



Rochelle (Shelly) Antoniewicz, Deputy Chief Economist at the Investment Company Institute, conducts research on the structure and trends of the ETF and mutual fund industries and on financial markets in the US and globally. Shelly also contributes to analysis on financial systemic risks and conducts economic analysis on the impacts of proposed laws and regulations governing funds. Prior to joining ICI in 2005, Shelly spent 13 years as a staff economist and senior economist at the Federal Reserve Board. She has a PhD in Economics from the University of Wisconsin, Madison. 




Peter J. Brady is a Senior Economic Adviser at the Investment Company Institute (ICI). At the Institute, Mr. Brady focuses on pensions, retirement savings, and the taxation of capital income. Peter’s current research is focused on using administrative tax data to measure changes in income across the life cycle. His prior research includes work on retirement adequacy, replacement rates, pension coverage, and the tax treatment of retirement savings. Mr. Brady is a past President of the National Tax Association and is a member of the SOI Consultants Panel (for the Internal Revenue Service, Statistics of Income Division). Prior to joining the Institute, Mr. Brady worked as a financial economist in the Office of Tax Analysis at the U.S. Department of Treasury and, prior to working at the Treasury Department, as a staff economist in the Research Division at the Federal Reserve Board. Mr. Brady is a graduate of St. Lawrence University and holds a Ph.D. in economics from the University of Wisconsin.




Gary Burtless is a Senior Fellow in the Economic Studies program at the Brookings Institution in Washington, DC.  He does research on issues connected with social insurance and pension policy, aging, labor economics, income distribution, and the behavioral effects of government tax and transfer policy.

Burtless is coauthor of Can America Afford to Grow Old? Paying for Social Security (1989). He was also editor or co-editor and contributor to A Future of Lousy Jobs? The Changing Structure of U.S. Wages (1990), Work, Health and Income Among the Elderly (1987), Retirement and Economic Behavior (1984), and Closing the Deficit: How Much Can Later Retirement Help? (2013).  Burtless has written numerous articles on labor markets, the income distribution, pensions, and the economic effects of Social Security, unemployment insurance, and taxes. In recent work he used Social Security records to determine the trends in life expectancy among high- and low-income workers, and estimated age differences in the cost of providing health insurance and paid leave coverage to U.S. workers.

Burtless graduated from Yale College in 1972 and received a Ph.D. in economics from the Massachusetts Institute of Technology in 1977.  Before coming to Brookings in 1981, he served as an economist in the policy and evaluation offices of the Secretary of Labor and the Secretary of Health, Education, and Welfare.




Sarah Holden, ICI senior director of retirement and investor research, leads the Institute’s research efforts on investor demographics and behavior and on retirement and tax policy. Holden, who joined ICI in 1999, heads efforts to track trends in household retirement saving activity and ownership of funds as well as other investments inside and outside retirement accounts. She is responsible for analysis of 401(k) plan participant activity using data collected in a collaborative effort with the Employee Benefit Research Institute (EBRI), known as the EBRI/ICI Participant-Directed Retirement Plan Data Collection Project. In addition, she oversees the IRA Investor DatabaseTM, which contains data on millions of IRA investors and allows analysis of IRA investors’ contribution, rollover, conversion, and withdrawal activity, in addition to asset allocation. Before joining ICI, Holden served as an economist at the Federal Reserve Board of Governors. She has a PhD in economics from the University of Michigan and a BA in mathematics and economics, cum laude, from Smith College.




Michael D. Hurd is Senior Principal Researcher, RAND, and an NBER Research Associate. His research interests include retirement, pensions, Social Security, consumption and saving, the cost and consequences of dementia, survey methods, and the properties and uses of subjective probabilities.  He is a co-investigator of the Health and Retirement Study, an advisor to the English Longitudinal Study of Ageing, and a member of the Scientific Monitoring Board of the Survey of Health Ageing and Retirement in Europe.