James Sia, head of defined contribution for GMO LLC, was elected to a two-year term as chairman of the Defined Contribution Institutional Investment Association, Lew Minsky, the association's executive director, confirmed Tuesday.
Mr. Sia succeeds Toni Brown, senior defined contribution specialist at Capital Group.
Mr. Minsky said in an interview that the association also is planning to hire a research project manager to run the association's new DCIIA Retirement Research Center. “We felt there was a gap in the research” between academic studies and real-world applications for retirement plan management, Mr. Minsky said.
“The emphasis is on the participant,” Mr. Minsky said. “We want to make the system work better for the participant.
Mr. Minsky said the association had been working on the concept for about a year.
“The creation of the DCIIA Retirement Research Center will allow us to more effectively work with DCIIA's member firms, academic thought leaders, plan sponsors and others in the retirement industry to develop informed and actionable research,” said Lori Lucas, the newly elected vice chairwoman of DCIIA, in a DCIIA news release issued Tuesday. Ms. Lucas is executive vice president and defined contribution practice leader at Callan Associates.