Since we published the first edition of this handbook in 2014, defined contribution (DC) retirement plans have continued to grow in usage, and the dynamics of the system have changed rapidly in response to legislation, litigation and increased understanding of plan participants' needs and behaviors.
This handbook is designed to help you better understand today's DC market and prevailing best practices as you build a plan to help meet participants' retirement income needs within the context of meeting your fiduciary obligations.
The challenges of managing a DC plan continue to become more complex and we've updated this third edition to address this continued evolution, such as:
- Plan governance is coming under greater scrutiny than ever before
- Many plan sponsors are seeking more innovative, customized qualified default investment alternatives (QDIAs) beyond traditional target date funds
- Often plan menus are becoming more consolidated and less focused on offering lots of brand name funds
- The industry is taking a more holistic approach to participants' financial wellness in the context of retirement readiness
We hope you find these updates useful, topical, and informative, and that the handbook continues to be a valuable resource for everyone involved in overseeing DC plans.
A look inside