Kristi Mitchem — picked to run the defined contribution business of a combined BlackRock Inc. and Barclays Global Investors when their merger is completed — believes the DC industry has gotten a bum rap.
Just because participants in 401(k) plans have investment information doesn't mean they'll read it, a J.P. Morgan Retirement Plan Services survey showed. In fact, two-thirds of 401(k) participants don't read investment information provided by their plan executives.
Defined contribution plan executives and money managers still have plenty of work to do in adopting some of the best practices laid out in the Pension Protection Act of 2006, according to Seth J. Masters, chief investment officer of AllianceBernstein Defined Contribution Investments.