Annual Caltech Bray Lecture To Address Retirement Savings

PASADENA— Eli Broad, chairman, president, and chief executive officer of SunAmerica Inc., will deliver the Annual Caltech Bray Lecture on the American Economic System, at 7:00 p.m. on Monday, January 23, 1994, at the Athenaeum, on the Caltech campus. In his talk "Boomer Wave Or Boomerang? The Retirement Reckoning of the 20th Century" he will address the timely issue of the economic impact of an aging population On the editorial pages of The Wall Street Journal renowned professor Peter Drucker has dubbed retirement savings one of "the four great growth markets" of the future. Not only are Americans living longer, but fewer of them are covered by company-paid pension plans, and they may not be able to rely on Social Security by the time they retire.

Eli Broad believes that Americans are starting to get the message about retirement responsibility, particularly as the ranks of preretirees surge from 47 to 61 million during this decade alone. He will discuss the economic ramifications of extended retirement periods from his vantage point as chairman of SunAmerica Inc., a leading seller of retirement products. In this role, Mr. Broad has waged a crusade to encourage individuals to increase their savings levels, and has been a pivotal force in promoting a national retirement savings policy.

A cofounder of the company in 1957, Mr. Broad has guided its growth from a one-market homebuilder to a leading financial services company responsible for $23 billion. He is also founder-chairman and chairman of the executive committee of Kaufman and Broad Home Corporation, now an independent billion-dollar New York Stock Exchange listed homebuilder. He is a trustee of Caltech, as well as a director of the Federal National Mortgage Association.

Mr. Broad is the 1995 Bray Visiting Lecturer, an award Caltech confers annually on an entrepreneurial leader who has made major contributions to his industry and to education and public affairs.

Contact: Sue Pitts (818) 395-3227