Ascensus and Empower Retirement announced the purchase of Truist Financial Corp.'s institutional 401(k) record-keeping businesses.
The Labor Department gave the OK on the use of private equity in DC plans, but don't expect plan fiduciaries to move too quickly.
Market volatility may lead DC plan sponsors to consider adding alts to investment lineups, but Labor Department guidance is needed first.
Companies have begun suspending planned matching contributions to their defined contribution plans as a result of the COVID-19 pandemic.
Defined contribution plans need to evolve to become more tech-savvy, customized, cost-effective and better governed, a report finds.