New Retirement in America Podcast: Rising Healthcare Costs Put Retirement Security Under Pressure

Segal Board Chair David Blumenstein Examines the Changing Benefits Landscape, the Enduring Value of Pensions and the Future of Retirement

WASHINGTON, Sept. 17, 2026 /PRNewswire/ -- The National Institute on Retirement Security (NIRS) today released Episode 5 of its Retirement in America podcast, "The New Reality of Retirement and Workplace Benefits."

The new episode features David Blumenstein, board chair and immediate past president and CEO of Segal, and podcast host Dan Doonan in a wide-ranging conversation about the forces reshaping employee benefits and retirement security. They examine rising healthcare costs, the shift of retirement responsibility to individuals, the continuing value of pensions, changing expectations for workplace benefits, and how technology and artificial intelligence could transform the field.

Retirement in America is available on the NIRS website, YouTube, and all major podcast platforms.

"Healthcare and retirement benefits do not exist in separate silos," Doonan said. "When healthcare costs consume a larger share of compensation, there is less room for wages and retirement contributions. David brings decades of experience working with employers and plan sponsors, and this conversation helps explain why strengthening retirement security requires looking at the entire benefits landscape."

Blumenstein says the pace of change confronting employers and plan sponsors has accelerated significantly. On the retirement side, advances in computing have enabled more sophisticated risk modeling. On the healthcare side, employers are navigating rapidly evolving treatments, telehealth and other new approaches to care. At the same time, workers increasingly expect benefits information and tools to be as immediate and easy to use as other digital services.

The conversation also explores the broader shift toward placing more responsibility for saving for retirement on individual workers. Blumenstein says that while defined contribution plans are an important part of the retirement system, many workers cannot simply save more when their income is already consumed by basic necessities. Doonan and Blumenstein discuss the role defined benefit pensions can play by providing lifetime income workers can count on, as well as the need for personal savings to supplement retirement income.

Blumenstein also offers an optimistic view of technology and artificial intelligence. He expects new tools to make benefits analysis faster and more responsive while allowing employers and workers to model decisions more easily. But he emphasizes that critical thinking, problem solving and judgment will remain essential as the benefits field continues to evolve.

Among the topics discussed in the episode:

• Rising healthcare costs and retirement security. Healthcare inflation puts pressure on employer compensation budgets, potentially leaving less available for wages and retirement benefits while workers and retirees face higher medical expenses.
• The changing employee benefits landscape. Employers and plan sponsors are adapting to faster technological change, new healthcare treatments and rising expectations for easy, real-time access to benefits information.
• The growing burden on individuals. Workers are increasingly responsible for saving for their own retirement, even as affordability pressures can make it difficult to maximize 401(k) or IRA contributions.
• The enduring value of pensions. Doonan and Blumenstein discuss how defined benefit plans provide lifetime income and reduce some of the complex financial decisions and risks individuals otherwise must manage on their own.
• Technology and AI. Blumenstein sees technology as a force that can improve modeling, communication and decision-making, while increasing the importance of critical thinking and problem solving.
• A collective approach to retirement security. The episode closes with a discussion of the need for employers, policymakers and other stakeholders to work together on challenges that cannot be solved by individuals alone.

Retirement in America is a podcast from NIRS examining the economic, workforce and policy trends influencing retirement security. Combining expert insight with real-world experiences, the podcast helps listeners better understand one of the most important financial issues facing American workers and families today.

The National Institute on Retirement Security is a nonprofit, nonpartisan organization established to contribute to informed policymaking by fostering a deep understanding of the value of retirement security to employees, employers, and the economy as a whole. Located in Washington, D.C., NIRS membership includes financial services firms, employee benefit plans, trade associations, and other retirement service providers.

SOURCE National Institute on Retirement Security