DEFINED CONTRIBUTION
Universities Superannuation Scheme will add private markets to the asset allocation of its defined contribution plan's default option.
Paychex named Michael Majors senior director of national retirement sales.
Investments that appear higher up on alphabetically listed defined contribution plan lineups are those participants select the most.
The SECURE Act, which provided a safe harbor for DC sponsors, addresses only one hurdle for adding annuities to DC plan lineups.
Surveys conducted before enactment of the SECURE Act show relatively few DC sponsors offer in-plan annuities or similar products.
Defined contribution plans will start looking more like pension plans by 2025, according to Russell Investments.
After its first six months, CalSavers reported it had 628 registered employers and nearly 3,800 funded accounts.
The ferocity of fee-fighting by defined contribution plan executives was in full force in 2019 and will continue in 2020.
DCIIA and SPARK Institute are partnering on three projects in 2020 to tackle shared goals and bolster research capabilities.
DC plan participants remain committed to saving for retirement, with only 1.3% halting contributions in the first half of 2019.
