For decades we’ve focused on the nest-egg notion as the goal for retirement saving, benchmarking our progress in relation to that lump sum. But it has no context other than probably being the single biggest “paycheck” most of us will ever see. (more…)
We are optimistic that a bright future lies ahead for retirement, despite all the concerns that Americans feel today. (more…)
When it comes to planning for retirement, we’ve been setting US workers up to fail. (more…)
Many smaller US defined contribution (DC) plans rely on guidance from advisors, and the majority of these DC plan sponsors are happy they do so. But how do plans gauge whether they really need advisors, and assess the benefits against the cost of advice? (more…)
When it comes to constructing the perfect defined contribution (DC) plan, sponsors and participants both might benefit by taking a page from the Rolling Stones’ famous line: “You can’t always get what you want, but…you get what you need.” (more…)
The US Department of Labor’s new 404(a)(5) fee-disclosure rules for defined contribution (DC) plans will provide participants with a lot more information on plan and investment fees—in plain language. That’s a good thing. But there’s a real risk that the new rule may unintentionally drive participants to make poor investment choices. (more…)
The federal government wants to make it easier for employers to offer lifetime income solutions in retirement plans. My colleague, Mark Fortier, offers an interesting approach to doing so. (more…)
The US Department of Labor’s new fee-disclosure rules for defined contribution (DC) plans will provide participants with much more information on plan and investment-option fees. That’s good. But there’s a real risk that it may unintentionally drive participants toward making poor investment decisions, as my colleagues Mark Fortier and Daniel Notto explain below.
This spring and early summer will be a busy time for US defined contribution plan sponsors and providers, but to a good end: greater clarity on services and fees.
Two-thirds of US defined contribution (DC) plan participants say that a secure retirement income stream is the most important feature they’re looking for, as we noted in our seventh annual survey report. But US workers rarely convert their retirement savings to lifetime income by purchasing a traditional fixed annuity. What’s standing in the way?