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Diversity and Inclusion
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Welcome to DCIIA's online resource library for DCIIA and member thought leadership. If you have resources to contribute in this topic area contact us at

DCIIA posts links to member content as a service to our members, plan sponsors, and the broader retirement industry. Some sites may require registration. Posting these links does not imply endorsement and we are not responsible for non-DCIIA content. Please advise us of any broken links or other updates.

DCIIA and Member Resources

DCIIA Virtual Communities: Candid Conversations About Racism, Diversity, and the Path Forward
July 2020

Join us for this important discussion, where you will hear about personal and corporate perspectives and responses to the ongoing -- and recently spotlighted -- discussion of race, racism, and diversity in workplaces, communities, and the nation as a whole.

Diversity Dressing: The Hidden Figures
May 2020

Mercer reports on efforts "to understand the degree of diversity, starting with a focus on gender diversity, among the key decision makers in the investment industry."

Fireside Chat with Mellody Hobson: "Is the Investment Industry Ready to be Color Brave™?"
February 2020

In an NEPC exclusive fireside chat, Mellody Hobson, co-CEO and President of Ariel Investments sat down with Chenae Edwards, Senior Consultant on NEPC’s Healthcare team and co-chair of NEPC’s Diversity, Equity, and Inclusion Network, to speak candidly about a key issue: diversity in finance.

How Diversity and Culture Impact Mercer's Manager Ratings
September 2019

Details about Mercer's approach to assessing investment strategies, noting their belief that "diverse teams are more likely to outperform."

Next Stage: Are You Age-Ready?
Fall 2019

Mercer asks: How can smart employers optimize their workforce performance by capturing the value of age and experience in a changing world of work? Discover the steps you can take today to build an age-ready organization.

Why Inclusion, Diversity, and Equality are Imperative in Investment Management Today
June 2019

PGIM notes that "a connection between Pride Month, WorldPride, and institutional investing may not seem an obvious one, but it’s an important one: research has shown that greater diversity in teams and businesses can lead to better informed investment decisions and strategies."

Closing the Retirement Savings Gap for Women
March 2019

Aon notes: “Female employees are less prepared for retirement than their male counterparts. Understand what the three major factors are that drive the gap, and more importantly, what employers can do to help their employees enjoy a more secure retirement.”

Fund Managers by Gender Through the Performance Lens
March 2019

This paper expands Morningstar's research on fund managers by gender. Previous research established that female fund managers are outnumbered by men by a ratio of 9 to 1 in the United States.

Guidance on Enhancing Gender Diversity on Boards
Spring 2019

As part of a review of boards’ gender diversity, State Street Global Advisors analyzed and compared the level of diversity in six markets: Australia, Canada, Europe, Japan, the UK and the US.

Why Diversity and Inclusion Matter to Investors
December 2018

In this blog post, Morningstar notes: “A growing cadre of investors care about diversity, inclusion, and other factors falling under the heading of ‘sustainability.’ Financial advisors and asset managers are taking notice. The good news is that considering diversity and inclusion in investment selection leads to strong and stable businesses. The constituents of the recently launched Morningstar® Minority Empowerment Index™ and Morningstar® Women’s Empowerment Index™ score well on measures of volatility, competitive advantage, and financial health.”

Promoting Gender Diversity in the Investment Industry
September 2018

Callan Executive Chairman Ron Peyton offers his observations on what has worked for gender inclusion at the firm over the last 45 years and what we have learned in the hope that it will inform others on how to progress toward equality in senior roles industry-wide. These lessons apply as well to achieving diversity in all its forms.

Pairing 401(k) Savings Preservation and Expanded Access for America’s Minorities
September 2018

Retirement Clearinghouse notes, "Over the past few years, we’ve written extensively about auto portability -- what it is, how it works and the significant, positive impact it will have on the retirement security of working Americans. Our positions have been supported by research, predictive models (including EBRI’s RSPM) and real-world results from the initial implementation of auto portability. In this article, we address an important retirement public policy question: How would a pairing of auto portability with open multiple employer plans (or “open MEPs”) impact the retirement savings of America’s minorities, and particularly, African-Americans?"

Accelerating for Impact: 2018 Gender Inflection Point

A comprehensive report from Mercer, which is four years into its "When Women Thrive, Businesses Thrive" research.

The Missing Link: Sustainable Diversity and Inclusion Through Organization Design

In this paper, Mercer offers diversity leaders a framework and methodology for designing their own highly effective, sustainable D&I efforts based on empirical evidence and the best thinking on organization design.

On Gender, Diversity and the 'Library of Mistakes'
December 2017

In this Q&A with Vanguard, Amy Gutmann provides her unique expertise on some key issues facing industry and academia.

Don’t You Know, We’re Talking About an Evolution?
July 2017

This piece from Marquette Associates addresses the availability of strategies managed by diverse firms in the context of DC lineups. By examining the hurdles for diverse managers in the defined contribution space, plan sponsors, consultants, and managers will be able work together to develop practical solutions and improve inclusion.

Inside Employees' Minds: Women and Wealth

Mercer research has reinforced that women have unique financial challenges that employers are not yet adequately addressing. By better understanding these challenges and helping women take charge of their financial health, employers will reap the benefits of a healthier and more engaged female workforce that is not only more productive, but also easier to retain and develop.

Industry Resources

Race and Inclusion Now: An Investment Industry Call to Action
July 2020

This online panel discussion from the CFA Institute brought together two investment industry leaders and an identity and diversity scholar and researcher who is an expert on how organizations can foster positive relationships across differences.

A Letter to Take #ActionforEquality
June 2020

Emtrain provides specific ways to take action on becoming an ally, economic empowerment, white privilege, understanding the workplace experience for black/underrepresented people and more. Blog post by Elizabeth Morrison, VP of Diversity and Inclusion at Live Nation Entertainment.

Women in the Workplace
March 2020

Women in the Workplace is a multi-year joint research effort by McKinsey & Company and, who have published annual reports for the past 5 years focusing on the state of women in corporate America.

Being Black in Corporate America: An Intersectional Exploration
December 2019

The Center for Talent Innovation notes that "Corporate America needs to awaken to the challenges faced by black professionals. Black professionals are more likely to encounter prejudice and microaggression than any other racial or ethnic group in the workplace."

Retirement Experiences of People Age 85 and Over
Fall 2019

The Society of Actuaries presents its latest in a series of reports highlighting its extensive body of research on post-retirement risks and issues.

Women in the Workplace - Annual Report
October 2019

DCIIA was proud to partner with McKinsey in encouraging our members' participation in this year's study, which is jointly produced by McKinsey with LeanIn and covered extensively in The Wall Street Journal.

Closing the Global Gender Gap: Issues for the Investment Industry
July 2019

A curated list of relevant articles from Savvy Investor.

Women of Color Get Less Support at Work. Here’s How Managers Can Change That.
March 2019

This Harvard Business Review article proposes six actions that leaders can take immediately to help the women of color on their teams to advance. It cites data including: “Despite representing about 18% of the U.S. population, women of color represented only 4% of C-Level positions in 2018, falling far below white men (68%) and white women (19%).”

Testimony Before the Subcommittee on Diversity and Inclusion, Committee on Financial Services, House of Representatives
February 2019

The U.S. Government Accountability Office published this statement by Daniel Garcia-Diaz, Director, Financial Markets and Community Investment, "Representation of Minorities and Women in Management and Practices to Promote Diversity, 2007-2015." It is specific to the financial services industry.

Quick Take: Why Diversity and Inclusion Matter
August 2018

This blog post from Catalyst highlights data and findings selected from a vast body of research on the benefits of diversity and inclusion in the workplace, with an emphasis on studies published in the last few years.

Driving Change: Diversity and Inclusion in Investment Management

The CFA Institute asks, "Why is the industry stuck when it comes to diversity and inclusion (D&I)? What can be done to change it? What is working and what isn’t when it comes to recruiting, promoting, and retaining top talent? How do firms attract a diverse candidate pool and successfully recruit diverse candidates? What does an “inclusive” work culture look like? Have we moved beyond D&I as a “check the box” initiative?"

Women in the Workplace

Women in the Workplace 2018 is the largest comprehensive study of the state of women in corporate America. Since 2015, LeanIn.Org and McKinsey & Company have published this report annually to give companies and employees the information they need to advance women and improve gender diversity within their organizations. Also see: LeanIn circles, education resources, and the book by Sheryl Sandberg.

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