David M. Blanchett, head of retirement research for the Morningstar Investment Management group, has been awarded the 2015 Montgomery-Warschauer Award for his May 2014 Journal of Financial Planning article “Exploring the Retirement Consumption Puzzle,” the Financial Planning Association announced Thursday.

The Montgomery-Warschauer Award honors the paper published in the Journal that provides the most outstanding contribution to the betterment of the profession in the preceding year. This award was named for the late Henry Montgomery, who helped create the Journal, and Tom Warschauer, the Journal’s first academic editor.

A co-winner of the 2014 Montgomery-Warschauer Award and 2007 recipient of the Journal’s Financial Frontiers Award, Blanchett’s primary research focus is on financial planning, tax planning, annuities and retirement plans. He serves as chairman of Morningstar’s Advice Methodologies investment subcommittee.

Before joining Morningstar, he was the director of consulting and investment research for the Retirement Plan Consulting Group at Unified Trust Company in Lexington, Ky.

“The paper provides evidence that planners need to question their automatic modeling of expenditures in retirement as a certain constant dollar amount adjusted by inflation,” says Rosa M. Kohler, a member of the Journal’s editorial advisory board.

Winners are selected based on nominations by the Journal’s editorial staff and the votes of the editorial advisory board. The award will be presented at the FPA's business and education conference in Boston in September.

The paper can be found on the FPA website at http://www.onefpa.org/journal/Pages/MAY14-Exploring-the-Retirement-Consumption-Puzzle-.aspx.