When organizations evaluate key characteristics of their defined contribution (DC) retirement plans they often ask: How does our retirement plan compare to others? Plan sponsors and their advisors often benchmark their plans against industry averages to see how they measure up. But, is that what they should strive for – being average – or should they aim higher? At Russell Investments, we believe DC plans should strive for excellence.
This paper highlights that excellent DC plans do not happen by accident; it takes a process starting with the end in mind, as well as the fortitude and persistence to achieve excellence. We have laid out several steps you can take this year to help move your plan from average to excellent.