The age of DB may be over but many of its principles can be used to improve DC plans. BNY Mellon has revealing insights into how DC plan sponsors are drawing on DB best practices to increase efficiency.
As DC plans increasingly replace defined benefit plans, responsibility for retirement readiness has shifted to employees. Auto-enrollment and auto-escalation help, but how else can we prepare participants to shoulder responsibility for their retirement outcomes?
Active management advocates say managers should hold portfolios of just the securities in which they have the highest confidence. But growing “high conviction” investing is likely to increase risk, make manager skill harder to detect, raise asset owners’ costs, and reduce the number of outperforming funds.
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