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DCIIA in Plansponsor: Best Practices From Behavioral Economics

Posted By Karen Witham, Wednesday, August 26, 2020

Read DCIIA's latest byline in Plansponsor, "Best Practices From Behavioral Economics: Communicating in Times of Crisis," by Warren Cormier of DCIIA's Retirement Research Center:

Read the Article

Behavioral biases in financial decisionmaking should be considered when conveying important plan-related messages to employees. Learn about the three most powerful drivers of behavior and more in the article.

Other DCIIA articles in Plansponsor include:


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DCIIA Publishes Considerations for Offering Private Equity in DC Plans

Posted By Karen Witham, Thursday, July 30, 2020

DCIIA is pleased to announce the publication of "Considerations for Offering Private Equity in Defined Contribution Plans." This paper provides a brief overview of the DOL Information Letter and some initial takeaway considerations.

Access the report in our Resource Library

Read the Report PDF

DCIIA plans to continue facilitating this important dialogue by bringing the key stakeholders together to develop thought leadership that explores the opportunities and challenges associated with adding other types of alternative investments to DC plans.

If you have questions, please contact us on info@dciia.org.

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Just Published: Plan Sponsor Survey on Impact of Coronavirus

Posted By Karen Witham, Wednesday, June 24, 2020

DCIIA’s Retirement Research Center is pleased to announce the publication of COVID-19 Plan Sponsor Pulse Survey Results. This report offers highlights from the RRC’s recent survey of its Plan Sponsor Steering Committee and other plan sponsors.

Read the story:

https://dciia.org/news/514002/Just-Published-Plan-Sponsor-Survey-on-Impact-of-Coronavirus.htm

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Action Items for Plan Sponsors -- "Practical Barriers to Better Outcomes"

Posted By Karen Witham, Wednesday, May 6, 2020

DCIIA is pleased to announce the publication of Five Practical Barriers to Better Retirement Outcomes: Assessing Challenges and Taking Action.

During this time of economic distress, plan sponsors may be examining their plan documents and having internal discussions about potential changes that may need to be considered to preserve their near-term financial stability. DCIIA encourages plan sponsors to also consider the points raised in this paper as part of their deliberations, including potentially timely issues such as:

Missing participants: Now is a good time to assess a plan’s current process for managing participant information and ensuring it’s updated.

401(k) loan leakage: Loan defaults may increase during an economic downturn. It’s a good time to assess how effectively an organization is communicating with participants about outstanding loans. Plan sponsors may also want to ensure that employees are aware of other options besides taking out a 401k loan.

Other potential roadblocks discussed in the paper include the movement of assets out of plans via rollovers, participants leaving the plan at retirement, and obstacles to in-plan annuities.

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Just Published: Plan Sponsor Survey on Auto Features

Posted By Karen Witham, Thursday, April 30, 2020

DCIIA has just published the fifth edition of our plan sponsor survey, which was first fielded in 2010. The survey, conducted by DCIIA's Retirement Research Center (RRC), represents the views of 175 defined contribution (DC) plan sponsors.

Read the Survey in Our Resource Library

This year's report offers observations relative to prior survey findings, where applicable, and provides historical perspectives on how plan sponsor behaviors and attitudes towards auto features have developed over time.

Key findings include:

* Auto enrollment saw growth in adoption, to 69% in 2019, up from 60% in 2016. However, future adoption of auto enrollment may slow.

* Presently, 69% of plans offer auto escalation, up from 50% from our prior survey. Auto escalation may also be reaching its maximum adoption level.

*Adoption of QDIA re-enrollment remains limited. This year's survey reports a modest increase, with 24% reporting having ever done a QDIA re-enrollment, up from 18% in the prior survey.

The majority of plans offering auto features see a direct and attributable benefit to their plans' outcomes as a result. The most commonly cited benefit is having higher participation, followed by faster growth of assets in the plan, which can lead to reduced costs.

In their survey responses, plan sponsors indicate that increasing savings rates and improving communications top their list of objectives for their plans. Implementing auto features is directly helping plan sponsors get the results they desire. In short, plan sponsors are adopting auto-feature practices because they recognize that they are working.

If you have questions about the survey, please contact DCIIA RRC Executive Director Warren Cormier on warren.cormier@dciia.org.


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Videos from P&I DC East

Posted By Karen Witham, Tuesday, March 24, 2020

Watch video interviews with the 2020 Eddy Award winners, conference speakers, and DCIIA members shot at P&I DC East in March 2020:

https://video.pionline.com/category/Defined+Contribution/14655

 

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Read About the Retirement Tier in Plansponsor

Posted By Karen Witham, Wednesday, March 4, 2020

Now Is the Time: The Retirement Tier

In this byline article in Plansponsor, DCIIA's COO, Peg Knox, discusses the “retirement tier,” which allows a DC plan sponsor to broaden the plan’s goal from accumulation to decumulation.

https://www.plansponsor.com/now-time-retirement-tier/

 

 

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SECURE Act Resources

Posted By Karen Witham, Monday, February 24, 2020
Updated: Tuesday, February 25, 2020

DCIIA is pleased to share resource links related to the Setting Every Community up for Retirement Enhancement Act of 2019 (SECURE Act).

 

"This landmark legislation is particularly well aligned with DCIIA's mission and our core themes -- design matters, closing the retirement savings gap, and solving the fiduciary puzzle," said Lew Minsky, DCIIA's president and CEO.

 

For more information and insights, we encourage all members and plan sponsors who are interested in legislative and regulatory developments to join our Public Policy Committee and visit the "Fiduciary, Legal and Regulatory Insight" topic in our Resource Library.

 

Click Here for SECURE Act News Coverage and Helpful Links


 

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Opt-In to Receive DCIIA Event Invitations and Updates

Posted By Karen Witham, Thursday, August 22, 2019

Are you responsible for managing (or helping to manage) your organization's defined contribution retirement plan? Would you like to be notified of DCIIA event invitations, webinars, new white papers, and other educational content and networking opportunities?

Please provide your contact information via the below link and you'll be added to our plan sponsor database, where you'll join the more than 600 plan sponsors who are already engaged with DCIIA. We will not sell or distribute your contact information to any outside parties.

https://dciia.org/page/PlanSponsorWelcome

If you have any questions please contact us on info@dciia.org. Thanks!

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DCIIA Retirement Research Center Announces Plan Sponsor Steering Committee

Posted By Karen Witham, Sunday, February 10, 2019

The DCIIA Retirement Research Center, led by Warren Cormier, is pleased to announce its inaugural Plan Sponsor Steering Committee. The committee will provide valuable input in support of the RRC's mission to develop original research that is practical, actionable, collaborative, credible, product agnostic, and transparent.

Many thanks to these plan sponsors for their time and participation!

Pictured (L-R):
Lavina Mehta, Bechtel; Tony Tomich, Farmers Insurance; Scott Knowles, Cisco Systems; Stuart O'Dell, formerly of Intel; Thomas Foster, Pinnacle West; Ed Adams, IBM; Meenu Natarajan, HP; Julie Nickoley, Boeing; Carrie Pierce, State of California Savings Plus Program


Not pictured:
Mary Nell Billings, Hilton; Kevin Hanney, UTC; Jeffrey Hutson, Indiana Public Retirement System; Keith Overly, Ohio Deferred Compensation; Diana Winalski, International Paper

Photo credit: Scott Dingwell

Tags:  PSSC 

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